In the past seven days, the global crypto market experienced significant volatility spurred by several factors. These include China’s AI DeepSeek in the US market, the Fed’s lending rate decisions, and new tariffs announced by President Trump.
All these developments left the global crypto market capitalization dropped by 3.83% to $3.35 trillion. As a result, the Fear and Greed Index dropped to 60 from a high of 84 during the week, highlighting a decline in market greed sentiment.
Bitcoin below $100k
These negative figures made the Bitcoin price fall from a high of $106,000 seen during the week to the current low of $98,877.02. This means the asset experienced a decline of 6.7% in the past seven days. The decrease came after traders recouped profits ahead of the Fed’s first meeting this year and concerns about China’s AI DeepSeek impact on the US tech market.
Traders had no hopes for a reduction of lending rates at the Fed’s meeting on Thursday, and as a result, drew funds away from risky assets like crypto.
Also, the launch of China’s AI DeepSeek impacted broader investor sentiment in the US tech market and cryptocurrency. Furthermore, Bitcoin price nosedived below the $100,000 mark on Friday after US President Trump introduced heavy taxes on goods imported from China, Mexico, and Canada.
Altcoin market down
In the altcoin market, prices of major tokens have been down in the past seven days. Dogecoin led with the largest drop of 20.70%. Solana recorded the second-largest decline of 19.16%. Cardano followed with a 15.76% decrease while XPR registered a slump of 12.89%. Ethereum, BNB, and TRON also lost 9.15%, 7.57%, and 7.22% respectively.
Top weekly gainers
According to data from CoinMarketCap, three altcoins stood out as the best performers in the past seven days.
Mantra (OM) emerged as the top performer of the week, with a tremendous price increase of 14.3%. OM’s remarkable performance was demonstrated by its climbing to a new ATH of $5.82 on January 30, three days ago. Its outstanding performance has been fueled by multiple factors including increasing community engagement, and robust fundamentals in its DeFi ecosystem. These also include positive user sentiment towards RWAs connected with this asset and recent business collaborations boosting its demand and price.
It was followed by Jasmy Coin (JASMY) which registered a weekly rise of 7%. JASMY specializes in advancing the accessibility of the IoT and data privacy/security. Its impressive performance has been bolstered by several factors. As more people understand the need for data privacy and security, apps like JASMY see increased demand. Secondly, as IOT technology continues advancing, JASMY become more relevant. Lastly, its recent strategic partnerships enabled it to gain visibility.
Jito (JTO) secured the third position with a weekly price surge of 6.37% over the same period, showcasing its positive trend. Its strong performance appears boosted by network activity including fee revenues. The latest data, as of Jan 30, showed Jito, the biggest liquid staking platform on Solana, became the second most profitable platform in the crypto landscape following Tether (USDT). While Tether generated $350 million this year, Jito earned over $260 million. Jito’s robust revenue performance enabled it to outperform some of the largest players in the industry, including Ethereum and Solana. Its increasing fees align with a rise of the TVL in its ecosystem. As per Defillama data, Jito’s total value locked has surged to $3.36 billion.
