ETH Dives Below $3,000 — What’s Disrupting the Crypto Market?
The new week starts with turbulence in the crypto market. On Monday, January 13, both BTC and ETH momentarily slipped below crucial levels of $90,000 and $3,000, though minor rebounds followed.
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The downturn in the AI agent token market has been severe, with certain tokens plummeting by over 50% within the week.
According to CoinGlass, traders endured over $700 million in liquidations in just a single day, making the market’s decline particularly harsh.
Source: WhiteBIT
Why is the crypto market experiencing such shocks? The answer may lie in macroeconomic data and broader liquidity forecasts for the crypto sector heading into 2025.
On Friday, January 10, reports highlighted a stronger-than-expected U.S. labor market in December. Non-farm employment surged, surpassing projections, while unemployment dipped from 4.2% to 4.1%.
Concerns are mounting that the Federal Reserve could keep its interest rate steady for the foreseeable future. The CME FedWatch Tool currently indicates a 90% probability that the target rate will stay in the range of 425–450 basis points through January 2025.
Source: cmegroup.com
That said, these expectations remain fluid and could shift depending on upcoming economic developments. Keeping tabs on fresh data and the Fed’s broader considerations is highly recommended.
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