Last week in the news
The February US NFP data were below market expectations, however, the market sentiment is still highly under the influence of US trade tariffs. The US equity market had a correction during the previous week, with S&P 500 closing the week at the level of 5.770. The weakening of the US Dollar stopped further surge in the price of gold, but it still ended the week with a weekly gain, reaching the level of $2.909. The US Treasury yields reversed after reaching the lowest weekly level at 4,1%, ending the week at 4,30%. BTC is still in a roller coaster mood, testing the $90K, but still ending the week around the $86K.
The US Nonfarm payrolls data for February came a bit lower from the market forecast. The US economy added 151K new jobs, while the market was expecting to see a figure of around 170K. At the same time, the unemployment rate for February was modestly increased to the level of 4,1%, from 4,0% posted previously. Regardless of a weaker than expected jobs data in February, the major concern of investors continues to be trade tariffs of the US Administration toward the main trading partners, including Mexico, Canada, China and the European Union.
The trade war started by the US Administration is spilling its effects on other countries. As per latest news, China is planning to impose sanctions on some Canadian goods, including agriculture and oil products, from 100% to 25%, depending on the goods. Tariffs are scheduled to come into force on March 20th. At the same time, Canada imposed 100% tariffs on Chinese electric vehicles, which came into force in October last year.
“We do not need to be in a hurry, and are well positioned to wait for greater clarity” said Fed Chair Powell at a Policy forum during the previous week. This comment was made on the latest trade tariffs of the US Administration, noting that the combination of measures in the sphere of tariffs, immigration, fiscal policy and regulation will have a combined effect on the US economy.
During the previous week, the US President signed an executive order to establish a Strategic Bitcoin Reserve and a US Digital Asset Stockpile. The BTC market had only a mild reaction to this news.
UBS analysts are noting in their research that China might experience its own “GPT moment”. They noted that Chinese start-ups are rapidly innovating and integrating AI technology. The bank emphasized a product called Monica.ai Manus as a standout example of a program capable of doing many tasks including data analysis and coding.
Crypto market cap
The crypto market was following general sentiment on financial markets during the previous week. The correlation with the US equity market continues as the crypto market entered the mainstream. The US President signed the executive order establishing a Strategic Bitcoin Reserve, however, the market reaction was relatively mild. Total crypto market capitalization remained relatively flat during the previous week, regardless of a higher volatility within the week. Daily trading volumes were also relatively flat compared to the week before. Total crypto market increase from the beginning of this year, currently stands at -14%, with $460B outflow of funds.
BTC had a relatively volatile week, however, it managed to close the previous week relatively flat compared to the week before. ETH had a modest drop in the market cap of 2,2%, with an outflow of $ 6B in funds. Other major altcoins also had a relatively negative week. DOGE was traded down by 8,4%, decreasing its total market cap by $2B. Solana had also a modest drop of 2,3% w/w, decreasing its cap by $1,6B. BNB was down by 3%, with a decrease in the value of $1,6B. On the opposite side was ADA, who managed to end the week in positive territory, with a surge in value of 22% or $5,1B. Tron also had a good week, increasing its value by 13,6%, or $2,7B. Other altocins were traded in a mixed manner.
During the previous week Tron had an increase in the market value, but it also increased its coins in circulation by 10% on a weekly basis. This was one of the highest weekly increases for this coin. Stablecoin Tether is back on a positive territory, with an increase of circulating coins of 0,3% this week. Solana and IOTA also had an increase in the number of coins on the market by 0,3% each.
Crypto futures market
The general market sentiment impacted the crypto futures market to trade in a mixed manner during the previous week. Although BTCs spot market remained flat, still, its futures market gained above 3% for all maturities. In this sense, futures maturing in December this year closed the week at $93.550 and those maturing a year later were last traded at $101.800.
On the opposite side were ETH futures which closed the week around 3% lower from the week before. Futures maturing in December this year were last traded around 3,2% lower, at $2.298. At the same time, futures maturing in December 2026 were traded lower by 2,7%, closing the week at $2.470.
The February US NFP data were below market expectations, however, the market sentiment is still highly under the influence of US trade tariffs. The US equity market had a correction during the previous week, with S&P 500 closing the week at the level of 5.770. The weakening of the US Dollar stopped further surge in the price of gold, but it still ended the week with a weekly gain, reaching the level of $2.909. The US Treasury yields reversed after reaching the lowest weekly level at 4,1%, ending the week at 4,30%. BTC is still in a roller coaster mood, testing the $90K, but still ending the week around the $86K.
The US Nonfarm payrolls data for February came a bit lower from the market forecast. The US economy added 151K new jobs, while the market was expecting to see a figure of around 170K. At the same time, the unemployment rate for February was modestly increased to the level of 4,1%, from 4,0% posted previously. Regardless of a weaker than expected jobs data in February, the major concern of investors continues to be trade tariffs of the US Administration toward the main trading partners, including Mexico, Canada, China and the European Union.
The trade war started by the US Administration is spilling its effects on other countries. As per latest news, China is planning to impose sanctions on some Canadian goods, including agriculture and oil products, from 100% to 25%, depending on the goods. Tariffs are scheduled to come into force on March 20th. At the same time, Canada imposed 100% tariffs on Chinese electric vehicles, which came into force in October last year.
“We do not need to be in a hurry, and are well positioned to wait for greater clarity” said Fed Chair Powell at a Policy forum during the previous week. This comment was made on the latest trade tariffs of the US Administration, noting that the combination of measures in the sphere of tariffs, immigration, fiscal policy and regulation will have a combined effect on the US economy.
During the previous week, the US President signed an executive order to establish a Strategic Bitcoin Reserve and a US Digital Asset Stockpile. The BTC market had only a mild reaction to this news.
UBS analysts are noting in their research that China might experience its own “GPT moment”. They noted that Chinese start-ups are rapidly innovating and integrating AI technology. The bank emphasized a product called Monica.ai Manus as a standout example of a program capable of doing many tasks including data analysis and coding.
Crypto market cap
The crypto market was following general sentiment on financial markets during the previous week. The correlation with the US equity market continues as the crypto market entered the mainstream. The US President signed the executive order establishing a Strategic Bitcoin Reserve, however, the market reaction was relatively mild. Total crypto market capitalization remained relatively flat during the previous week, regardless of a higher volatility within the week. Daily trading volumes were also relatively flat compared to the week before. Total crypto market increase from the beginning of this year, currently stands at -14%, with $460B outflow of funds.
BTC had a relatively volatile week, however, it managed to close the previous week relatively flat compared to the week before. ETH had a modest drop in the market cap of 2,2%, with an outflow of $ 6B in funds. Other major altcoins also had a relatively negative week. DOGE was traded down by 8,4%, decreasing its total market cap by $2B. Solana had also a modest drop of 2,3% w/w, decreasing its cap by $1,6B. BNB was down by 3%, with a decrease in the value of $1,6B. On the opposite side was ADA, who managed to end the week in positive territory, with a surge in value of 22% or $5,1B. Tron also had a good week, increasing its value by 13,6%, or $2,7B. Other altocins were traded in a mixed manner.
During the previous week Tron had an increase in the market value, but it also increased its coins in circulation by 10% on a weekly basis. This was one of the highest weekly increases for this coin. Stablecoin Tether is back on a positive territory, with an increase of circulating coins of 0,3% this week. Solana and IOTA also had an increase in the number of coins on the market by 0,3% each.
Crypto futures market
The general market sentiment impacted the crypto futures market to trade in a mixed manner during the previous week. Although BTCs spot market remained flat, still, its futures market gained above 3% for all maturities. In this sense, futures maturing in December this year closed the week at $93.550 and those maturing a year later were last traded at $101.800.
On the opposite side were ETH futures which closed the week around 3% lower from the week before. Futures maturing in December this year were last traded around 3,2% lower, at $2.298. At the same time, futures maturing in December 2026 were traded lower by 2,7%, closing the week at $2.470.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.