Last week in the news
U.S. PCE data for August were in the spotlight of investors interest during the previous week, which shaped investors sentiment and trading decisions. The US equity markets modestly corrected, where S&P 500 touched the lowest level at 6.565, however ended the week at 6.643. The price of gold reached another all time highest level at $3.790, but eased till the end of the week to $3.760. The US yields also reacted to PCE data, with a move toward the 4,18% level. The crypto market had a corrective week, where BTC dipped down toward levels below the $110K.
The key U.S. economic release of the week was the August PCE Price Index, which rose 0.3% month-over-month, bringing the annual rate to 2.7%, in line with market expectations. Core PCE, excluding food and energy, slowed to 0.2% for the month and 2.9% y/y. Personal income rose by 0.4%, while personal spending increased by 0.6% in August. In addition, the final Q2 GDP growth rate came in at 3.8%, beating expectations of 3.3% and reflecting strong economic momentum. As per CME Fed WatchTool investors are continuing to perceive two more rate cuts till the end of this year.
The US President Trump proposed a 100% tariff on imported pharmaceuticals effective October 1, but allowed exemptions for companies that had begun building U.S. manufacturing plants. The tariff does not apply to companies that are actively building US drug manufacturing plants. The rationale is to incentivize onshoring of pharmaceutical production and reduce reliance on foreign supply chains. Several European pharma firms, like Novo Nordisk, Roche, and Novartis, saw stock declines, as investors weighed how exposed they would be to the tariff.
News is reporting that Chinese stocks have posted strong gains this year, fueled largely by renewed foreign and domestic investor interest in tech, AI, and innovation sectors. Analysts highlight the market’s momentum being driven by policies supporting chip development, optimism over regulation, and favorable valuations that are attracting capital. Foreign investment flows into Chinese equities have increased, while domestic investors are reallocating toward secular growth themes over property or stimulus plays. Still, concerns remain over narrow market breadth, lofty valuations, and whether the rally can sustain itself amid global uncertainty.
The U.S. government is reportedly considering a mandate that would force semiconductor companies to produce as many chips domestically as they import, a 1:1 production-to-import ratio, to reduce reliance on foreign supply. Under this plan, firms that fail to meet the ratio over time could face tariffs (possibly up to 100 %). To ease the transition, companies that pledge to build domestic capacity would receive credits, allowing them to import while new plants are constructed. The proposal is part of a broader push to reshore chip manufacturing, though critics note the complexity and cost involved in aligning global supply chains under such a rule.
CRYPTO MARKET
As per news reports, it seems that large investors decided to offload part of their crypto holdings during the previous week. The offload was followed with higher level of liquidations of leveraged position, which added to total crypto market capitalization decreased during the previous week of 6%, or $251B. However, analysts are noting that this drop should not be perceived as negative development, but a necessary catalyst for future move toward the upside. Daily trading volumes increased during the week to the level of $326B on a daily basis, from $241B traded a week before. Total crypto market capitalization increase from the beginning of this year currently stands at +23%, with a total funds inflow of $748B.
It was a correction week for the majority of crypto coins. The largest coin, BTC lost 5,5% in value or $128B in funds outflow. ETH also went through a correction of 10,2% on a weekly basis, signalling investors caution in the altcoin market. From other major coins, XRP finished the week 6,7% lower from the week before, while market favorite Solana, was traded lower by around 15% from the end of the previous week. BNB went through a week relatively solid with a minor drop in value of 2,7% w/w. Most other leading coins such as Cardano, DOGE, Polkadot or Uniswap suffered double-digit losses, underscoring a broadly bearish week across the crypto sector. On the opposite side, ZCash should be especially mentioned, as this coin managed to increase its value by 10%, which was indeed a rarity during the previous week.
When it comes to circulating coins, increased activity was also evident in this field. Polkadot managed to increase the number of coins on the market by 0,6%, while Filecoins added by 0,3% new coins to the market. The majority of other altcoins added around 0,1% of new coins to circulation.
Crypto futures market
The crypto futures market experienced a turbulent week, reflecting the broader correction that swept across the spot market. Both BTC and ETH futures posted consistent declines across all maturities, underscoring cautious sentiment among traders and institutional investors.
BTC futures fell between 4,78% and 5,5% w/w, with contracts maturing in January 2026 leading the decline. Prices still followed an upward trajectory along the curve, beginning with $109.195 for September 2025, climbing to $119.875 for March 2027. This week marked the first time March 2027 futures were traded, signalling growing demand for longer-term instruments despite short-term weakness.
ETH futures registered steeper losses of 9,2% to 11,2%. Regardless of negative developments on the spot market, ETH futures managed to hold above the $4K mark. December 2026 closed the week at $4.428, while first time trading March 2027 closed the week at $5.502. Despite the consistent declines, ETH futures exhibited an upward-sloping curve, highlighting expectations of gradual recovery over the long run.
U.S. PCE data for August were in the spotlight of investors interest during the previous week, which shaped investors sentiment and trading decisions. The US equity markets modestly corrected, where S&P 500 touched the lowest level at 6.565, however ended the week at 6.643. The price of gold reached another all time highest level at $3.790, but eased till the end of the week to $3.760. The US yields also reacted to PCE data, with a move toward the 4,18% level. The crypto market had a corrective week, where BTC dipped down toward levels below the $110K.
The key U.S. economic release of the week was the August PCE Price Index, which rose 0.3% month-over-month, bringing the annual rate to 2.7%, in line with market expectations. Core PCE, excluding food and energy, slowed to 0.2% for the month and 2.9% y/y. Personal income rose by 0.4%, while personal spending increased by 0.6% in August. In addition, the final Q2 GDP growth rate came in at 3.8%, beating expectations of 3.3% and reflecting strong economic momentum. As per CME Fed WatchTool investors are continuing to perceive two more rate cuts till the end of this year.
The US President Trump proposed a 100% tariff on imported pharmaceuticals effective October 1, but allowed exemptions for companies that had begun building U.S. manufacturing plants. The tariff does not apply to companies that are actively building US drug manufacturing plants. The rationale is to incentivize onshoring of pharmaceutical production and reduce reliance on foreign supply chains. Several European pharma firms, like Novo Nordisk, Roche, and Novartis, saw stock declines, as investors weighed how exposed they would be to the tariff.
News is reporting that Chinese stocks have posted strong gains this year, fueled largely by renewed foreign and domestic investor interest in tech, AI, and innovation sectors. Analysts highlight the market’s momentum being driven by policies supporting chip development, optimism over regulation, and favorable valuations that are attracting capital. Foreign investment flows into Chinese equities have increased, while domestic investors are reallocating toward secular growth themes over property or stimulus plays. Still, concerns remain over narrow market breadth, lofty valuations, and whether the rally can sustain itself amid global uncertainty.
The U.S. government is reportedly considering a mandate that would force semiconductor companies to produce as many chips domestically as they import, a 1:1 production-to-import ratio, to reduce reliance on foreign supply. Under this plan, firms that fail to meet the ratio over time could face tariffs (possibly up to 100 %). To ease the transition, companies that pledge to build domestic capacity would receive credits, allowing them to import while new plants are constructed. The proposal is part of a broader push to reshore chip manufacturing, though critics note the complexity and cost involved in aligning global supply chains under such a rule.
CRYPTO MARKET
As per news reports, it seems that large investors decided to offload part of their crypto holdings during the previous week. The offload was followed with higher level of liquidations of leveraged position, which added to total crypto market capitalization decreased during the previous week of 6%, or $251B. However, analysts are noting that this drop should not be perceived as negative development, but a necessary catalyst for future move toward the upside. Daily trading volumes increased during the week to the level of $326B on a daily basis, from $241B traded a week before. Total crypto market capitalization increase from the beginning of this year currently stands at +23%, with a total funds inflow of $748B.
It was a correction week for the majority of crypto coins. The largest coin, BTC lost 5,5% in value or $128B in funds outflow. ETH also went through a correction of 10,2% on a weekly basis, signalling investors caution in the altcoin market. From other major coins, XRP finished the week 6,7% lower from the week before, while market favorite Solana, was traded lower by around 15% from the end of the previous week. BNB went through a week relatively solid with a minor drop in value of 2,7% w/w. Most other leading coins such as Cardano, DOGE, Polkadot or Uniswap suffered double-digit losses, underscoring a broadly bearish week across the crypto sector. On the opposite side, ZCash should be especially mentioned, as this coin managed to increase its value by 10%, which was indeed a rarity during the previous week.
When it comes to circulating coins, increased activity was also evident in this field. Polkadot managed to increase the number of coins on the market by 0,6%, while Filecoins added by 0,3% new coins to the market. The majority of other altcoins added around 0,1% of new coins to circulation.
Crypto futures market
The crypto futures market experienced a turbulent week, reflecting the broader correction that swept across the spot market. Both BTC and ETH futures posted consistent declines across all maturities, underscoring cautious sentiment among traders and institutional investors.
BTC futures fell between 4,78% and 5,5% w/w, with contracts maturing in January 2026 leading the decline. Prices still followed an upward trajectory along the curve, beginning with $109.195 for September 2025, climbing to $119.875 for March 2027. This week marked the first time March 2027 futures were traded, signalling growing demand for longer-term instruments despite short-term weakness.
ETH futures registered steeper losses of 9,2% to 11,2%. Regardless of negative developments on the spot market, ETH futures managed to hold above the $4K mark. December 2026 closed the week at $4.428, while first time trading March 2027 closed the week at $5.502. Despite the consistent declines, ETH futures exhibited an upward-sloping curve, highlighting expectations of gradual recovery over the long run.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.