Keeping pace with the ever-evolving financial landscape is crucial for making informed decisions. This comprehensive update delves into the latest movements in both the global and cryptocurrency markets. Let’s explore the trends and shifts observed over the past week.
US Market Weekly Update
The US Standard and Poor’s 500 index experienced a decrease of 0.88% over the past week, reflecting a mixed global market performance. While Europe saw a growth of 0.67%, Japan experienced a notable rise of 1.91%. India showed an increase of 0.85%, and Australia noted a slight growth of 0.16%. In contrast, China faced a significant decline of 5.48%, and South Africa decreased by 0.34%.
Economic indicators in the US revealed varied trends. The Pending Home Sales Year-over-Year for November increased from 5.4% to 6.9%, signifying a robust housing market. However, the Chicago PMI for December fell to 36.9 points from 40.2. The Dallas Fed Manufacturing Index showed improvement, rising from -2.7 to 3.4 points. The S&P/Case Shiller Home Price YoY index saw a slight decline to 4.2% but performed marginally better than anticipated.
The US MBA 30-Year Mortgage Rate climbed to 6.97% by the end of December, up from 6.75%. Concurrently, Initial Jobless Claims dropped to 211K, indicating a strengthening labor market. The S&P Global Manufacturing PMI Final in December decreased slightly to 49.4, while the ISM Manufacturing PMI showed growth, reaching 49.3 points.
The US dollar demonstrated strength against key currencies, including the Euro, Yuan, and Rupee. The Euro advanced by 1.08%, the Chinese Yuan by 0.3%, and the Indian Rupee by 0.43%. However, the Japanese Yen weakened, slipping by 0.31%.
Looking ahead to 2025, the US market projects a positive outlook, boosted by increased consumer spending, higher real incomes, and stable household finances. Supportive government measures are expected to further enhance economic growth. Inflation is anticipated to stabilize, contributing to a favorable environment for sustained progress.
Crypto Market Scenario This Week
In the realm of cryptocurrencies, the total market capitalization surged from 3.19 trillion to 3.41 trillion this week, marking a commendable growth of 6.89%. The altcoin market cap followed suit, rising from 1.34 trillion to 1.47 trillion, translating to an impressive increase of approximately 9.7%. Excluding the top ten cryptocurrencies, the market cap reported an 11.59% increase.
Bitcoin Market Overview
Bitcoin’s market performance has been noteworthy, registering a growth of 5.87% over the past week. Starting at $92,802.93 on December 30, the price peaked at $98,980.05 on January 3, 2025. Currently, Bitcoin is trading at $98,023.99, slightly below its weekly high.
Ethereum Market Scenario Analysis
Ethereum mirrored Bitcoin’s upward trend with a 7.05% increase this week. The price began at $3,361.95 on December 30, dipped to $3,337.65 on December 31, and then rose to a peak of $3,630.09 on January 3, 2025. Presently, Ethereum is valued at $3,591.11, a modest 1.07% below its weekly peak.
Top Ten Cryptos: Weekly Performance Review
The first week of January 2025 has proven positive for the top ten cryptocurrencies, with most exhibiting growth. Bitcoin increased by 5.87%, while Ethereum rose by 7.05%. Other notable performances include XRP (14.5%), BNB (3.4%), Solana (17.6%), Dogecoin (24.5%), and Cardano (25%).
Trending This Week
This week’s trending categories include PolitiFi, The Boy’s Club, Frog-Themed, Elon Musk-Inspired, and AI Agents. PolitiFi leads with an impressive seven-day growth of 47.6%. Additionally, trending cryptocurrencies such as Bio Protocol, ai16z, Sui, Virtuals Protocol, and Hyperliquid have captured market attention, with ai16z showing a remarkable 75.8% increase.
Crypto Category Overview
Over the past seven days, various crypto categories have witnessed significant shifts. The market cap for currency categories grew by 4.36%, chains surged by 9.32%, stablecoins saw a slight increase of 0.31%, and meme coins jumped by 21.7%. DeFi experienced a growth of 6.96%, blockchain infrastructure by 8.98%, blockchain services by 11.4%, GameFi by 11%, NFTs by 5.67%, and social categories by 2.12%. However, the market cap for CeFi saw a decline of approximately 5.82% during the same period.
Stay informed with Coinpedia’s Crypto Market Weekly Report, where we provide you with concise and essential updates on the cryptocurrency market.
