In a notable uptick, the leading cryptocurrencies experienced significant gains ahead of Monday's US market opening, as the market capitalization for digital assets rose to a notable $2.23 trillion. This marks the highest level seen in nearly a month, following a robust market close last week. Bitcoin (BTC) led the charge with an increase of over 1.3% in the past 24 hours, now trading at approximately $63,565.
Ethereum (ETH) also demonstrated strength, rising by about 2.9% to currently trade at around $2,651. Conversely, Solana (SOL) faced a slight decline, dropping more than 0.6% to a trading price of $144.22. The total global cryptocurrency market capital saw an overall increase of 1.5%, reaching $2.23 trillion, while the CoinDesk Market Index recorded a growth of about 1.4% in the last 24 hours, indicating positive momentum in the crypto market. In related financial developments, spot price Bitcoin exchange-traded funds (ETFs) experienced substantial net inflows totaling $92 million on Friday, as reported by Farside Investors.
Ethereum ETFs also witnessed combined net inflows amounting to $2.9 million, reflecting growing interest among investors in these digital assets. Looking ahead at the economic calendar for the week, investors are poised to watch key indicators and reports. On Monday at 9:45 am ET, the S&P Global purchasing managers' index report will be released, providing insights into the economic landscape.
Additionally, comments from Federal Reserve officials—particularly from Chicago Fed President Austan Goolsbee and Minneapolis Fed President Neel Kashkari—are anticipated, as they may influence market sentiment. Further data is scheduled for release on Wednesday, including new home sales for August and weekly mortgage application figures.
Thursday will bring updates on jobless claims data, providing a clearer picture of the labor market. Concluding the week's lineup, Friday will see the release of the essential personal income and outlays report for August, coupled with the University of Michigan's consumer sentiment survey for September, both critical in shaping investor expectations and market movements..