Activity stays low in the crypto market, with low volumes and modest open interest following another week of chop. Will rebalancing effects improve the momentum as we grind towards the end of 2025?
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Continued docile market activity
Crypto markets remain subdued, with BTC posting modest volumes, flat open interest, and mild ETF outflows. BTC fell 3% over the past week after four consecutive down days, now trading at two-week lows. A brief post-FOMC rally marked the local high following the Fed’s 25 bps rate cut.The initial relief from the rate cut faded as the Fed signaled a renewed “wait-and-see” stance, weighing on broader risk sentiment. Futures markets now price a 73% probability of unchanged rates at the January FOMC meeting and a 47.6% probability of no change in March. Meanwhile, betting markets have shifted sharply on the next Fed chair, with Kevin Warsh overtaking Kevin Hassett as the leading candidate.BTC ETPs saw renewed outflows, with 4,513 BTC redeemed over the we
