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Major Economic Events To Watch For This Week In Crypto: Best Crypto To Buy During The Dip?

Bank of England's interest rate cute by 25 basis points is one of the major economic event to watch out for this week.

By Akriti Seth

Last Updated: Feb 3, 2025

Fact checked

By Sam Cooling

Major Economic Events

The crypto market has entered February 2025 with turbulence and sharp sell-off. What are the major economic events that influenced this?

US President Donald Trump’s tariffs, geopolitical tensions, and the upcoming data releases – are all set to shape market sentiment further. 

The week began with Trumps’ announcement of hefty tariffs on Canada, Mexico and China. Canada has retaliated already, sparking fears of a global trade wars. 

Bitcoin (BTC), which had recently crossed the $100,000 mark and reached $109k for the first time in January 2025, plunged nearly 7% to a three-week low of $91,500 during Monday’s Asian trading session. 

This marks an 11% drop from its all-time high of $109,114.88 recorded just weeks earlier.

Explore: Bitcoin Hits New Record High! BTC Rises 6% To Surge Past $109,000

Let’s not forget the Altcoin bloodbath. Ethereum (ETH) fell below $2,500, erasing three months of gains, while XRP plummeted by 27% to $2. 

Other major altcoins like Dogecoin, Cardano, Chainlink, and Avalanche saw declines exceeding 20%.

Let’s Look At Key Economic Data Releases To Watch Out For 

This week is packed with critical economic events that could further sway market sentiment:

Monday, 3 February 2025, the US Labor Market Data – the ISM Manufacturing PMI report provides insights into the health of the US manufacturing sector.

The Organization of Petroleum Exporting Countries (OPEC) also convenes today. It will discuss production strategies amid fluctuating oil prices. Any decisions impacting energy markets could indirectly influence crypto as an alternative investment.

Tuesday, 4 February 2025 – JOLTS Job Openings report, followed by Non-Farm Payrolls (NFP) report later this week are expected to shed light on employment trends. The unemployment rate is projected to tick up slightly to 4.2%, reflecting early signs of weaker government hiring.

Thursday, 6 February 2025 – The Bank of England is expected to cut interest rates by 25 basis points amid persistent inflation concerns in the UK.

Approximately 20% of S&P 500 companies are set to release earnings this week, including tech giants Alphabet (Google), Amazon, and AMD. 

Best Crypto to Buy During The Crypto Dip?

The question on everyone’s minds is which crypto will boom in 2025.

$MIND introduces an interesting concept by blending AI technology with the fun of meme coins. DeepSeek AI shows how AI can be more accessible. $MIND’s AI agent could offer unique insights into market trends, adding a utility layer to the meme coin space.

Explore: Why is Crypto Down Today? Best Crypto to Buy? Which Crypto Will Boom in 2025?

DeepSeek AI demonstrates the potential for cost-effective AI solutions, $MIND’s approach to using AI for market analysis might resonate with investors looking for something beyond just hype. Its presale success indicates interest, but it’s the AI component that could set it apart.

With DeepSeek AI’s hype, $MIND’s use of AI in the meme coin sector is worth watching. It’s not just about the meme but about the intelligence behind it. After all, $MIND is the world’s first truly self-sovereign crypto AI agent.

$MIND offers staking with a current APY of 468%, a 4.5x gain in a year. It is currently priced at $0.00324 before the token burns after launch. The token burn suggests a strategy to increase value over time, especially with more than $4.7 million raised.

Go to the MIND of Pepe website , connect your wallet, and purchase MIND using ETH or USDT, or even your bank card.

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Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

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Key Takeaways

  • US President Donald Trump’s tariffs, geopolitical tensions, and the upcoming data releases - are all set to shape market sentiment further. 

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Akriti Seth
Akriti Seth
Editor

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg... Read More

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