Market analysis for the week

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26.01.2024
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The working week is coming to an end. The only important economic data was the US GDP for the 4th quarter: +3.3%. This is good news, but it did not create a strong momentum in the markets.

🔴 The crypto market continued to fall. At the beginning of the week, digital assets accelerated their decline, but by the end of the week, they grew slightly. As a result, the capitalization of the crypto market fell by 2.4%. The acceleration is attributed to the fixation of FTX positions in the Greyscale fund, which puts pressure on the quotes of the entire market.

🟢 The stock market has risen to new heights. The S&P 500 rose by 1% and the Nasdaq by 0.6%. The main movements in the stock market should be expected after the reports of big tech and others – they are still ahead. A notable trend in companies that have already reported is to sell off shares even after good reports if these shares have recently experienced strong growth.

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