[](/u/XBTFX/)
CRYPTO week ahead: April 17 – 23
[CRYPTOCAP:TOTAL](/symbols/TOTAL/)Crypto Total Market Cap, $
Last week in the news
Inflation figures in the US are showing a decreasing trend, however, FED is still not sure whether it is time to halt further rate increases.These were the major news during the previous week which were driving the market sentiment.Both equity and crypto markets finished the week in a green zone.Bitcoin reached levels above $30K, while Ether was strongly supported by the Shanghai hard fork, ending the week above psychological $2K.
The US inflation data published on Wednesday, show a further slowdown in prices in the US.As per data released, the consumer price index reached 5% y/y in March, which is a drop from 6% y/y in February this year.The drop in inflation is mainly influenced by the drop in energy and food prices, which were the main drivers of increased prices during the previous period.This was clearly a sign for the markets that the easing in FED’s monetary tightening might soon come to an end.At the same time, FED is still not in the same line with markers.
Namely, as per published Minutes of the FOMC meeting, it seems that the FOMC members are of opinion of potential negative repercussions of the recently fallen banks on the economy, which might trigger a mild recession during the second half of this year with potential for recovery within the next two years.Same documents revealed that FED is expecting for the US economy to slow down to 0.4% during the course of this year.
A long awaited Ethereum`s Shanghai hard fork has been successfully implemented during the previous week.One of the most important features of this upgrade was to allow holders of the staked ETH free use of their coins.This upgrade strongly supported the price of Ethereum`s token, which reached psychological level of $2K.Although many crypto professionals were noting the possibility of a negative impact to ETH`s price, if the majority of holders of staked ETH start selling their coins, still, it did not happen.
Based on the announcement from Twitter, this company will soon allow its users to trade stocks, cryptocurrencies and other assets from their Twitter accounts.This comes as an exclusive deal between Twitter and eToro exchanger.
Dogecoin gained on this news almost 6% in value, following the still strange market relationship between Musk and DOGE.
The decentralized finance exchanger Uniswap announced that the company launched a wallet which can be used on mobile phones.As per statement, this application will be used to promote DeFi`s and allow its users to buy cryptos at a flat rate of 2.55%.
Crypto market cap
Positive market sentiment has been supported during the previous week by weakening of US inflation data.
As it has been officially published, inflation in March in the US was 5% y/y, and down from 6% y/y in February.This brought some confidence among market participants on the possibility that the FED will stop with further increase of interest rates in the coming period.Still, on the other side, released FOMC minutes are showing that FED officials are concerned over potential recession during the second half of this year, as a result of the recent banking crisis.Nevertheless, at this moment economic data remain mixed, as well as next FED monetary moves, but the market has waited for so long to get in a positive mood and bullish trend, that they are currently dismissing mixed signals.
Total crypto market capitalization has increased during the previous week by 8% w/w, adding $90B to its value.BTC and ETH were the ones to gain the most in nominal figures.Daily trading volumes returned to the pre-holiday levels, trading around $79B on a daily basis.Total crypto market capitalization increase from the beginning of this year currently stands at 63% , where it has added a total $480B to the market cap.
Major coins on the market were the ones to gain the most in nominal terms during the previous week.
BTC is still the most traded coin, which gained more than 8% during the week, adding $47B to its market cap.ETH continues to gain on a Shanghai upgrade, surging by 12.5% within a single week, increasing its market cap by $28B.BNB had relatively solid week, in which the coin increased its cap by $2.7B or 5.5%, and was followed by Cardano who surged by $2.3B or 17.7%.As for other altcoins, only a few of them lost in value during the previous week.Several coins with a good performance during the week were Solana, with a surge in market cap of 20.8%, Zcash increased its cap by 11%, while Maker added more than 13% to its cap.It was one of the rare weeks, where there has been a lot of changes in circulating coins of crypto currencies.Tether continued to gain further, adding 0.92% coins w/w.At the same time BNB decreased its circulating coins by 1.3%, which is rare to see on the market.Filecoin continues to increase its coins in circulation, adding 0.9% during the week.
Crypto futures market
Positive market sentiment from the spot market was also reflected in the crypto futures market.
BTC short term futures were traded around 9% higher from the week before.Long term futures were up by more than 8% w/w.Last trading price for futures maturing in December this year was $31.120, while December next year was closed at $32.180.The prices continue to reflect positive market sentiment for the future price developments for BTC.
ETH short term futures ended the trading week around 13% higher from the week before, while long term futures were up by more than 7% w/w.
Regardless of current positive market sentiment, still, the ETH futures curve took inverted shape for one more time.Namely, short term ETH futures have higher value than the longer ones.On a positive side it is that long term futures are still holding above the psychological level of $2K.ETH futures maturing in December this year ended the week at price $2.049, while those maturing in December next year were traded at price $2.099.
Inflation figures in the US are showing a decreasing trend, however, FED is still not sure whether it is time to halt further rate increases.These were the major news during the previous week which were driving the market sentiment.Both equity and crypto markets finished the week in a green zone.
Bitcoin reached levels above $30K, while Ether was strongly supported by the Shanghai hard fork, ending the week above psychological $2K.
The US inflation data published on Wednesday, show a further slowdown in prices in the US.As per data released, the consumer price index reached 5% y/y in March, which is a drop from 6% y/y in February this year.The drop in inflation is mainly influenced by the drop in energy and food prices, which were the main drivers of increased prices during the previous period.This was clearly a sign for the markets that the easing in FED’s monetary tightening might soon come to an end.At the same time, FED is still not in the same line with markers.Namely, as per published Minutes of the FOMC meeting, it seems that the FOMC members are of opinion of potential negative repercussions of the recently fallen banks on the economy, which might trigger a mild recession during the second half of this year with potential for recovery within the next two years.
Same documents revealed that FED is expecting for the US economy to slow down to 0.4% during the course of this year.
A long awaited Ethereum`s Shanghai hard fork has been successfully implemented during the previous week.One of the most important features of this upgrade was to allow holders of the staked ETH free use of their coins.This upgrade strongly supported the price of Ethereum`s token, which reached psychological level of $2K.Although many crypto professionals were noting the possibility of a negative impact to ETH`s price, if the majority of holders of staked ETH start selling their coins, still, it did not happen.
Based on the announcement from Twitter, this company will soon allow its users to trade stocks, cryptocurrencies and other assets from their Twitter accounts.This comes as an exclusive deal between Twitter and eToro exchanger.Dogecoin gained on this news almost 6% in value, following the still strange market relationship between Musk and DOGE.
The decentralized finance exchanger Uniswap announced that the company launched a wallet which can be used on mobile phones.
As per statement, this application will be used to promote DeFi`s and allow its users to buy cryptos at a flat rate of 2.55%.
Crypto market cap
Positive market sentiment has been supported during the previous week by weakening of US inflation data.
As it has been officially published, inflation in March in the US was 5% y/y, and down from 6% y/y in February.This brought some confidence among market participants on the possibility that the FED will stop with further increase of interest rates in the coming period.Still, on the other side, released FOMC minutes are showing that FED officials are concerned over potential recession during the second half of this year, as a result of the recent banking crisis.Nevertheless, at this moment economic data remain mixed, as well as next FED monetary moves, but the market has waited for so long to get in a positive mood and bullish trend, that they are currently dismissing mixed signals.Total crypto market capitalization has increased during the previous week by 8% w/w, adding $90B to its value.
BTC and ETH were the ones to gain the most in nominal figures.Daily trading volumes returned to the pre-holiday levels, trading around $79B on a daily basis.Total crypto market capitalization increase from the beginning of this year currently stands at 63% , where it has added a total $480B to the market cap.
Major coins on the market were the ones to gain the most in nominal terms during the previous week.BTC is still the most traded coin, which gained more than 8% during the week, adding $47B to its market cap.ETH continues to gain on a Shanghai upgrade, surging by 12.5% within a single week, increasing its market cap by $28B.
BNB had relatively solid week, in which the coin increased its cap by $2.7B or 5.5%, and was followed by Cardano who surged by $2.3B or 17.7%.
As for other altcoins, only a few of them lost in value during the previous week.Several coins with a good performance during the week were Solana, with a surge in market cap of 20.8%, Zcash increased its cap by 11%, while Maker added more than 13% to its cap.It was one of the rare weeks, where there has been a lot of changes in circulating coins of crypto currencies.Tether continued to gain further, adding 0.92% coins w/w.At the same time BNB decreased its circulating coins by 1.3%, which is rare to see on the market.
Filecoin continues to increase its coins in circulation, adding 0.9% during the week.
Crypto futures market
Positive market sentiment from the spot market was also reflected in the crypto futures market.BTC short term futures were traded around 9% higher from the week before.
Long term futures were up by more than 8% w/w.Last trading price for futures maturing in December this year was $31.120, while December next year was closed at $32.180.The prices continue to reflect positive market sentiment for the future price developments for BTC.
ETH short term futures ended the trading week around 13% higher from the week before, while long term futures were up by more than 7% w/w.
Regardless of current positive market sentiment, still, the ETH futures curve took inverted shape for one more time.Namely, short term ETH futures have higher value than the longer ones.On a positive side it is that long term futures are still holding above the psychological level of $2K.ETH futures maturing in December this year ended the week at price $2.049, while those maturing in December next year were traded at price $2.099.
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