Crypto Markets Stay Linked to Broader Economic Sentiments
The Fed’s aggressive forward guidance, along with concerns about forthcoming macro-economic updates from the U.S. and the expectation of remarks from prominent Fed officials, has led to a cautious atmosphere in the crypto market. Ongoing withdrawals from Bitcoin and Ethereum related spot ETF products in the U.S. have persistently affected sentiment in a negative way. The forthcoming update on the Fed’s preferred inflation measure is expected to reveal a slight rise in comparison to the data from August. The annual PCE Price Index is expected to increase modestly to 2.8 percent from 2.7 percent last month, with the core component likely remaining unchanged at 2.9 percent. The headline monthly PCE price index is expected to stay at 0.3 percent, with the core component likely remaining at 0.2 percent.
Economic data releases from the U.S. in the upcoming week are closely tied to market concerns. The upcoming economic indicators to monitor include the ISM Manufacturing PMI for October, trade data for August and September, the JOLTs job report for September, the ADP employment change report for October, the ISM Services PMI for October, along with pending updates on initial and continuing jobless claims and non-farm payrolls. The Fed, recognized for its dedication to a data-focused strategy in monetary policy decisions, is attentively observing changes in the labor market. The Federal Reserve’s next rate review is scheduled for December 10. Reports shows that the expectations for a quarter percentage rate cut in December have decreased to 68.8 percent, down from 72.8 percent just a day earlier and notably lower than the 91.7 percent noted a week ago. The continuous withdrawals from crypto Spot ETF products in the U.S. have further influenced market sentiment. On Thursday, Bitcoin-based Spot ETF products in the U.S. saw outflows amounting to $488 million, in contrast to $471 million on Wednesday. The iShares Bitcoin Trust ETF experienced significant outflows, totaling $291 million. On Thursday, Ethereum-based Spot ETF products saw outflows amounting to $184 million, in contrast to $81 million on Wednesday.
The iShares Ethereum Trust ETF experienced significant outflows, totaling $118 million. Gold Futures for December settlement are currently trading at $4,021.50 per troy ounce, showing overnight gains of 0.14 percent. The yellow metal has seen a drop of 2.8 percent in the last week, but it still boasts remarkable gains of over 52 percent for the year so far. The 6-currency Dollar Index, which measures the dollar’s strength against a selection of 6 currencies, currently stands at 99.55, up from 99.53 at the previous close. The total value of the crypto market experienced a drop of 1.1 percent overnight. In the most recent market update, only 6 of the top 100 cryptocurrencies have recorded gains surpassing 1 percent overnight, whereas a notable 73 have faced declines greater than 1 percent. Bitcoin has fallen to $109,982.94, about 13 percent below the all-time high of $126,198.07 reached on October 7. The original cryptocurrency faced a drop of 1.1 percent in the past week, yet it has achieved a remarkable rise of over 17 percent year-to-date in 2025. The trading range in the last 24 hours varied from $110,371.49 to $106,376.69. Ethereum saw a drop of 1.1 percent overnight, currently priced at $3,849.44. Expected growth for 2025 stands at 15.6 percent. Ether is presently valued at a level that is 22 percent beneath its peak historical price.
The trading in the last 24 hours varied between $3,897.76 and $3,681.91. Currently sitting at the 4th rank, BNB experienced a decline of 2.6 percent overnight, trading at $1,091.36, which is approximately 20 percent lower than its all-time high. Currently ranked 5th, XRP experienced a decline of 1.9 percent overnight, now trading at $2.50. The 6th ranked Solana experienced a drop of 2.4 percent overnight, resulting in a price of $187.17. SOL, with a decline of 1.1 percent, is notable as the leading cryptocurrency encountering year-to-date losses. Dogecoin, now in the 8th position, saw a drop of 1.7 percent overnight and is currently priced at $0.1857. DOGE has seen a drop of more than 41 percent thus far in 2025. Currently ranked 9th overall, TRON experienced a slight decline of 0.22 percent overnight and is now trading at $0.2957. Cardano, now positioned at the 10th spot, saw a drop of 3.2 percent overnight, resulting in a trading price of $0.6123. In a notable market movement, the 21st ranked Zcash surged by 5.4 percent, while the 71st ranked Aerodrome Finance experienced a gain of 3.9 percent. In the latest market movements, 52nd ranked Pump.fun emerged as the standout performer among the top 100 cryptocurrencies, despite experiencing a decline of 10.1 percent overnight. DoubleZero, currently positioned at the 88th rank, faced a significant drop of 9.8 percent overnight.
