In the past week, the crypto markets retreated significantly, losing over 300 billion USD in market capitalization. Despite a flat weekend, trading showcased volatility, particularly on Monday in Asia when Bitcoin briefly surged to nearly 96,000 USD before retreating.
This week, critical inflation reports such as the December PPI and CPI will be released. Analysts are concerned that rising inflation may prompt the Federal Reserve to pause its rate cuts, with the January 29 meeting approaching.
As for the performance of MAJOR cryptocurrencies, Bitcoin faced a decline of 5% over the last week, currently trading below 94,000 USD. Ethereum mirrored this trend with an 11% decrease, dropping towards the 3,200 USD mark.