MARKETS week ahead: September 9 – 15
Last week in the news
The previous week started with a negative market sentiment after leaked information regarding Nvidia's subpoena received from the U.S. Department of Justice, while the same sentiment continued till the end of the week, after releasing weaker than expected jobs data. Such sentiment increased US Dollar volatility, while the price of gold managed to sustain relatively higher levels, ending the week at $2.497. In expectation of a Feds higher rate cut, the US 10Y Treasury benchmark ended the week at 3,71%. The US equity markets had one of the worst weeks in this year, while the crypto market followed the negative sentiment for the second week in a row, with BTC closing at levels modestly below the 55K levels.
The week started with a negative sentiment, after the news was published that the US Justice Department pressed charges against market favorite Nvidia. As Bloomberg is reporting, the company Xockets Inc. pressed charges against both Nvidia and Microsoft Corp for illegally using seven patents from the company in relation to semiconductor technology used for the production of data processing units in chips used for the AI technology. The lawsuit is based on the violence of antitrust law in the US.
The week continued with high expectations with respect to US jobs data, which came out on Friday. Market volatility was significantly increased after the release of weaker than expected nonfarm payrolls for August. August's figure reached the level of 142K new jobs, while the market was expecting to see at least 160K. On a positive side is that the unemployment rate dropped a bit to the level of 4,2%, from 4,3% posted for the previous month. Other figures for the US economy, in terms of ISM indicators, are showing a positive development for the services sector in the US, while the manufacturing industry is still struggling to sustain a positive sentiment. After relatively weak jobs data for August, the market is rethinking a potential for Feds higher rate cut at their September FOMC meeting. There is currently an almost equal number of investors who are expecting 25 bps and 50 bps rate cuts. In an interview with CNBC, a Nobel prize winning economist, Joseph Stiglitz noted that the Fed raised interest rates too high too swiftly and that he would now vote for a higher rate cut, which was in line with expectations of economists from JPMorgan.
The previous week was not only bad for tech companies, but was also for the companies in the crypto industry. Both crypto exchangers and crypto miners experienced a selloff of shares. In line with a drop in the price of BTC and ETH, shares of the crypto exchanger Coinbase dropped down to the level of $147.
Crypto market cap
As the September FOMC meeting is nearing, the market nervousness is increasing. Last week`s weaker than expected US jobs figures, increased fears among market participants that the US economy is slowing down and that the Fed might cut interest rates higher from anticipated 25 bps in order to support the jobs market. In addition, negative news regarding Nvidia`s subpoena triggered general sell off of tech stocks, including also the crypto coins. Total crypto market capitalization decreased significantly during the last two weeks, while previous week only, total crypto market capitalization dropped by additional 7%, whipping out 134B from the market value. Again, the vast majority of crypto coins ended another week in red. Daily trading volumes were further decreased to the level of 79B on a daily basis, from 103B traded a week before. Total crypto market capitalization increase from the end of the previous year currently stands at 260B, which represents a 16% surge from the beginning of this year.
Another losing week on the crypto market is behind. For another week BTC was dragging total crypto market capitalization to the downside. BTC lost 7.3% in value, decreasing its market cap by 87.6B. ETH followed the path, with a loss of 8.2% in value, or 25B. Among higher losers were BNB, with a droop in value of 5.6% or 4.3B, while market favorite Solana was traded down by 3.7%, decreasing its market value by 2.3B. XRP also lost almost $ 2B in value, dropping by 6.2% on a weekly basis. There have been only a few coins which managed to end the week in green, like Monero, with an increase in value of modest 1.9%, Uniswap was traded higher by 8.1%, while Algorand managed to gain 1.9% in value.
Another week with increased developments over the coins in circulation. Filecoin managed to add 0.4% of new coins to the market, while Solana, EOS and Polkadot added 0.2%. The winner of the week was Miota, with 0.6% more coins on the market within the single week.
Crypto futures market
The crypto futures market reacted quite strongly to negative developments from the spot market. Both BTC and ETH futures ended the week lower for all maturities. BTC short term futures were traded lower by more than 10%, while the longer term ones were last traded down by 9%. BTC futures maturing in December this year closed the week at the level of $54.590, while those maturing a year later were last traded at $60.860.
ETH short term futures closed the week by 14% lower from the end of the week before, with December 2024 closing price of $2.250. Longer term futures were traded some 11.5% lower on a weekly basis, where December 2025 reached the last price at $2.455.
The previous week started with a negative market sentiment after leaked information regarding Nvidia's subpoena received from the U.S. Department of Justice, while the same sentiment continued till the end of the week, after releasing weaker than expected jobs data. Such sentiment increased US Dollar volatility, while the price of gold managed to sustain relatively higher levels, ending the week at $2.497. In expectation of a Feds higher rate cut, the US 10Y Treasury benchmark ended the week at 3,71%. The US equity markets had one of the worst weeks in this year, while the crypto market followed the negative sentiment for the second week in a row, with BTC closing at levels modestly below the 55K levels.
The week started with a negative sentiment, after the news was published that the US Justice Department pressed charges against market favorite Nvidia. As Bloomberg is reporting, the company Xockets Inc. pressed charges against both Nvidia and Microsoft Corp for illegally using seven patents from the company in relation to semiconductor technology used for the production of data processing units in chips used for the AI technology. The lawsuit is based on the violence of antitrust law in the US.
The week continued with high expectations with respect to US jobs data, which came out on Friday. Market volatility was significantly increased after the release of weaker than expected nonfarm payrolls for August. August's figure reached the level of 142K new jobs, while the market was expecting to see at least 160K. On a positive side is that the unemployment rate dropped a bit to the level of 4,2%, from 4,3% posted for the previous month. Other figures for the US economy, in terms of ISM indicators, are showing a positive development for the services sector in the US, while the manufacturing industry is still struggling to sustain a positive sentiment. After relatively weak jobs data for August, the market is rethinking a potential for Feds higher rate cut at their September FOMC meeting. There is currently an almost equal number of investors who are expecting 25 bps and 50 bps rate cuts. In an interview with CNBC, a Nobel prize winning economist, Joseph Stiglitz noted that the Fed raised interest rates too high too swiftly and that he would now vote for a higher rate cut, which was in line with expectations of economists from JPMorgan.
The previous week was not only bad for tech companies, but was also for the companies in the crypto industry. Both crypto exchangers and crypto miners experienced a selloff of shares. In line with a drop in the price of BTC and ETH, shares of the crypto exchanger Coinbase dropped down to the level of $147.
Crypto market cap
As the September FOMC meeting is nearing, the market nervousness is increasing. Last week`s weaker than expected US jobs figures, increased fears among market participants that the US economy is slowing down and that the Fed might cut interest rates higher from anticipated 25 bps in order to support the jobs market. In addition, negative news regarding Nvidia`s subpoena triggered general sell off of tech stocks, including also the crypto coins. Total crypto market capitalization decreased significantly during the last two weeks, while previous week only, total crypto market capitalization dropped by additional 7%, whipping out 134B from the market value. Again, the vast majority of crypto coins ended another week in red. Daily trading volumes were further decreased to the level of 79B on a daily basis, from 103B traded a week before. Total crypto market capitalization increase from the end of the previous year currently stands at 260B, which represents a 16% surge from the beginning of this year.
Another losing week on the crypto market is behind. For another week BTC was dragging total crypto market capitalization to the downside. BTC lost 7.3% in value, decreasing its market cap by 87.6B. ETH followed the path, with a loss of 8.2% in value, or 25B. Among higher losers were BNB, with a droop in value of 5.6% or 4.3B, while market favorite Solana was traded down by 3.7%, decreasing its market value by 2.3B. XRP also lost almost $ 2B in value, dropping by 6.2% on a weekly basis. There have been only a few coins which managed to end the week in green, like Monero, with an increase in value of modest 1.9%, Uniswap was traded higher by 8.1%, while Algorand managed to gain 1.9% in value.
Another week with increased developments over the coins in circulation. Filecoin managed to add 0.4% of new coins to the market, while Solana, EOS and Polkadot added 0.2%. The winner of the week was Miota, with 0.6% more coins on the market within the single week.
Crypto futures market
The crypto futures market reacted quite strongly to negative developments from the spot market. Both BTC and ETH futures ended the week lower for all maturities. BTC short term futures were traded lower by more than 10%, while the longer term ones were last traded down by 9%. BTC futures maturing in December this year closed the week at the level of $54.590, while those maturing a year later were last traded at $60.860.
ETH short term futures closed the week by 14% lower from the end of the week before, with December 2024 closing price of $2.250. Longer term futures were traded some 11.5% lower on a weekly basis, where December 2025 reached the last price at $2.455.
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