As of today, 17 February 2025, Bitcoin (BTC) has fallen to $96,228 after a rather turbulent week. Apart from the leading cryptocurrency tumbling, other well-known altcoins also took a hit.
Ripple(XRP), Solana(SOL), Dogecoin (DOGE) and most meme coins, including $TRUMP are all in the red. On the contrary, Cardano (ADA), Ethereum (ETH), and TRON (TRX) made very little gain.
This week, we are bracing for a mix of economic events, Federal Reserve updates, and corporate earnings reports. While traditional US markets are closed on Monday for Presidents’ Day, the crypto market—known for its 24/7 trading—has already shown signs of weakness.
Netizens are calling this a “bear trap.”
I CALLED THIS IN 2022 WHEN 99%
OF PEOPLE ON CT WERE BEARISH.WE ARE IN A BEAR TRAP AGAIN.
MASSIVE PUMP IS COMING
JUST READ THE PRICES BELOW…. https://t.co/1uMr0SxYHt
— Ash Crypto (@Ashcryptoreal) February 16, 2025
Federal Reserve Will Dominate Headlines This Week
With multiple scheduled speeches from key officials and the release of the Federal Open Market Committee (FOMC) meeting minutes from January, the Federal reserve will dominate the week.
Notable speeches include those by Philadelphia Fed President Patrick Harker, San Francisco Fed President Mary Daly, Chicago Fed President Austan Goolsbee, and St. Louis Fed President Alberto Musalem.
Investors are looking forward for the FOMC meeting minutes to determine whether rate cuts are on the horizon.
On Friday, 21 February 2025, Purchasing Managers’ Index (PMI) data for manufacturing and services, as well as Consumer Sentiment Index data will be out. These reports are leading indicators of economic health, consumer confidence levels and inflation expectations.
Approximately 20% of S&P 500 companies are set to report earnings this week. This includes retail giant Walmart and Chinese e-commerce leaders Alibaba and Baidu.
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Best Crypto To Buy?
Amid this cloud of uncertainty, investors are turning to more assurance. Despite the pressure on meme coins, many think Wall Street Pepe (WEPE) is worth exploring.
Launching on Uniswap Today, the frog-themed meme coin recently concluded a successful presale, raising over $72 million.
During its presale, demand was high, and the team raised an average of $1 million every day.
WEPE claiming will start today on February 17, before listing on Uniswap.
Each WEPE will begin trading at the last presale price of $0.0003665. However, there’s no discounting the possibility of a 5X to 10X increase in the next few days.
That means WEPE’s market cap can spike to over $270 million, even reaching $800 million.
This pump will be due to what Wall Street Pepe wants to achieve.
By bringing together retail traders and roping in experts to provide trading insights, WEPE holders will have an edge over whales. These large holders often manipulate meme coin prices.
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Key Takeaways
- As we brace for a mix of economic events, Bitcoin has fallen to $96,228 after a rather turbulent week.
- Approximately 20% of S&P 500 companies are set to report earnings this week, including retail giant Walmart and Chinese e-commerce leaders Alibaba and Baidu. These companies have been exploring blockchain technology and digital assets in their operations.
The post This Week In Crypto: Federal Reserve Updates And Corporate Earnings Reports. Best Crypto To Buy? appeared first on 99Bitcoins.
