Your weekly crypto digest is here: market shifts explained, top news unpacked, and one coin spotlighted for your radar.
After a week of intense volatility and steep corrections, the crypto market is showing early signs of stabilisation. Bitcoin’s drop to its lowest levels since early 2024 was followed by a cautiously constructive rebound.
Bitcoin has recovered to around $70,400 (₹63.7 lakh) from a mid-week low near $60,000, while Ethereum trades near $2,100 (₹1.88 lakh) and has lagged Bitcoin, dropping over 23% at its weekly low.
After prices briefly fell close to $60,000, Bitcoin recovered and was trading around $71,000, up about 3% day-on-day. Despite the rebound, Bitcoin has lost around 8% of its value this past week, while some altcoins have slid more than 30% (As of 9 February, 12:50 PM).
What were the key market drivers?
Macroeconomic backdrop: Market sentiment remains cautious following the nomination of Kevin Warsh as Federal Reserve Chairman, which has contributed to expectations of a potentially more restrictive monetary policy stance.
Institutional flows: Despite recent price declines, U.S. Bitcoin ETFs recorded $221 million in net inflows on 6 February, indicating continued institutional participation. MicroStrategy’s average acquisition cost of $76,037 has also emerged as a notable reference point for market sentiment.
Technical context: Bitcoin is currently trading within the $70,000–$72,000 range, which analysts identify as an important near-term zone. Levels around $75,000 are commonly cited as a threshold associated with a broader shift in market structure.
Aster has seen a sharp short-term move, rising around 13% in 7 days, alongside increased trading volumes, pointing to heightened market activity. As broader crypto markets attempt to stabilise, some flows have shifted toward higher-beta assets, including Aster.
From a technical perspective, the token has moved above a five-month downtrend, supported by rising volumes. Chart structures such as an inverse head-and-shoulders and a V-shaped rebound suggest improving price momentum, with recent trading activity concentrated around the $0.60–$0.56 range. As always, DYOR.
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Initial jobless claims influence views on economic strength and interest rates, shaping risk sentiment. Rising claims can support crypto via rate-cut expectations, while falling claims may pressure prices.
CPI data influences interest rate expectations and liquidity, which affect crypto market sentiment. Higher inflation often weighs on prices, while lower inflation can be supportive.
