The market dipped over the weekend as Bitcoin fell to around $65K on elevated tariff war fears. Meanwhile, Ethereum dropped to around $1,800, indicating pessimism amongst traders.
CoinMarketCap’s Crypto Fear and Greed Index is hovering around 14, signaling that traders are still cautious of macro uncertainty that could add to selling pressure.
This past week, U.S. Q4 GDP growth was announced at just 1.4%, far below the estimate of 2.5%.
Core PCE was raised to 3% YoY last week, slightly above the average estimate of 2.9%.
What Traders Should Watch Out for This Week
Traders should watch out to see how the world will react to Trump’s renewed tariff threats; while the Supreme Court struck down tariffs last week, the administration could turn to other levers to push their trade agenda.
Major U.S. PPI data is also going to be released this Friday, which could signal inflation as well as Fed rate expectations amid hawkish repricing.
Additionally, NVIDIA earnings, to be released on Wednesday, could weigh on U.S. AI tech stocks and crypto.
Here are the major economic indicators to watch out for this week:
- Feb 23: Factory orders
- Feb 24: S&P Case-Shiller home price index (20 cities), wholesale inventories, consumer confidence
- Feb 25: NVIDIA Q4 earnings report
- Feb 26: Initial jobless claims
- Feb 27: Producer price index (delayed report), core PPI, construction spending (delayed report), Chicago Business Barometer (PMI)
