Ah, dear readers, prepare for a tale of digital woe! Crypto markets, those once-celebrated digital playgrounds, have taken a tumble, plunging to depths unseen since 2025!
Our beloved US President, Donald Trump, has reignited his trade war, slapping tariffs on Canada, Mexico, and China. The Federal Reserve, led by Jerome Powell, has remained steadfast in their monetary policy, maintaining interest rates at 4.25% to 4.5%.
Powell even suggested a “greater regulatory apparatus” for crypto, all while advising banks not to abandon crypto customers. A twist of irony, wouldn’t you say?
But fear not! For we have a week filled with economic events and revenue reports! Yes, indeed! Brace yourself for OPEC’s first meeting of 2025, ISM Manufacturing PMI data, JOLTS Job Openings data, and the January Jobs Report, among others.
And let’s not forget the earnings reports from 20% of S&P 500 companies, including Alphabet (Google), PayPal, AMD, Amazon, and MicroStrategy. Quite the lineup, wouldn’t you agree?
But alas! Our digital friends, the cryptocurrencies, have not fared well. Bitcoin, Ethereum, XRP, Dogecoin, and their digital brethren have bled profusely, shedding more than 20% of their value in a single day! A sight to behold, indeed!
So, dear readers, grab your popcorn, sit back, and watch the crypto markets bleed! A tragicomic tale, indeed!
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2025-02-03 10:13