Crypto markets entered a volatile week against a backdrop of escalating geopolitical tension. Digital assets retreated Monday as traders braced for key U.S. economic data, including labor reports that could influence Federal Reserve policy. Bitcoin failed to hold above $67,000, while Ethereum fell back below $2,000.
Global markets are monitoring fallout from recent U.S.-Israeli strikes on Iran. While one analysis firm urged against panic, noting oil prices had retraced half their initial spike, U.S. stock futures opened lower.
This week’s U.S. economic calendar is dense with labor market insights critical to the Fed. The data begins with February’s ISM Manufacturing PMI on Monday, followed by the ADP Employment report on Wednesday.
Initial Jobless Claims data arrives Thursday before Friday’s main events. The February Jobs Report and January Retail Sales data will be released concurrently, providing a comprehensive economic snapshot.
The jobs report follows unexpectedly strong January gains. Reuters polled economists expect an increase of 60,000 jobs for February.
“We saw a good January jobs report, but we also have seen a really weak 2025 for the job market, and so the question becomes, where do we go from here?” said Kristina Hooper, chief market strategist at Man Group. The Kobeissi Letter also outlined the week’s key events.
Cryptocurrency markets erased weekend gains, with total capitalization dropping to $2.35 trillion. Bitcoin was rejected at the $67,000 level multiple times before falling to $66,300.
Ethereum retreated to approximately $1,950 after failing to sustain a price above $2,000. Major altcoins like XRP, Solana, and Cardano registered larger losses during the Asian trading session.
