Weekly Cryptocurrency Overview

🟨During the week from October 18 to 25, 2024, the cryptocurrency market showed mixed trends. Bitcoin lost about 1% of its value but maintained optimistic sentiment due to a drop in U.S. jobless claims, which may indicate a potential rate cut by the Federal Reserve—a positive sign for crypto investors.

🟨In the spot ETF market, inflows reached nearly $3 billion over ten days, and holdings by large Bitcoin holders hit a historical high of 670,000 BTC. Meanwhile, Ethereum’s price dropped by 5.84%, reflecting a decrease in interest, and Avalanche also declined by 5.12%, despite developer activity. Overall, while the week was negative for cryptocurrencies, there are some slight positive trends on the horizon.