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The cryptocurrency market is currently experiencing fluctuations, with Bitcoin 
$109,356 trading at $96,300. Recent U.S. economic data has contributed to this volatility, influenced by Trump’s additional tariffs which have negatively affected rate cut expectations for upcoming meetings. In the week of February 24 to March 2, what crucial developments should cryptocurrency traders anticipate?
Significant Developments in Cryptocurrency
As always, we highlight key events awaiting cryptocurrency investors this week. It promises to be another dynamic week. The aftermath of the ByBit hack continues, with efforts underway to freeze the assets held by the attacker. Although some assets have been recovered by the exchange, the majority remain in the hands of Lazarus.
Expectations in the Cryptocurrency Market
The critical development of the week will be the PCE data released on Friday. This data serves as a crucial inflation indicator for the Fed, and a decline compared to the previous month would be supportive for the markets. Despite Powell’s comments raising concerns before the recent PPI data, expectations suggest a decrease of 0.1.
The markets are pricing in a single rate cut from the Fed this year, which could easily reverse with positive data. This scenario could significantly bolster the cryptocurrency market. Additionally, similar actions to the SEC’s recent termination of the Coinbase case may occur in other ongoing cases in the coming days.
For the last four days, outflows have continued in the Bitcoin ETF sector, starting this trend on February 6, excluding a few exceptions. Such prolonged outflow periods have historically been followed by renewed inflows, which can be supportive for the market.
Due to the ByBit hack, the exchange will need to accumulate Ether. This situation may positively impact altcoins above the $2,800 mark, but in the coming days, the reserve’s recovery through debt and new acquisitions may open the door for more opportunities.
