Bitcoin bounces 7% from lows, but crypto remains under pressure in U.S. trade

Cryptocurrency Market - Bitcoin (BTC) is currently trading just below $79,000, having bounced back from a low of below $75,000 during the weekend, marking a 2% increase over the past 24 hours and a 7% rise from its weekend low, but still down over 10% week-over-week [1] - Ether (ETH) has also seen a 2% increase in the past day, but is down 19% compared to levels from a week ago [1] - The recent sell-off in the crypto market was characterized by a rapid liquidation of over $2 billion in crypto derivatives, which contributed to the downside momentum [2] Stock Market - U.S. stocks, including the Nasdaq and S&P 500, traded higher on Monday, with increases of 0.6% each, while the Dow Jones Industrial Average rose by 0.9% [3] - The Dow Jones Industrial Average has experienced its longest winning streak in history, with nine consecutive months of gains, which historically correlates with strong future returns for stocks [3] Precious Metals - Gold and silver experienced volatility, currently down modestly after their worst one-day sell-off since 1980 [4] Economic Indicators - The ISM manufacturing PMI for January came in at 52.6, exceeding expectations of 48.5, indicating the first expansion in manufacturing activity in 12 months and the strongest reading since 2022 [5] - January is typically a month of reordering following the holiday season, which can lead to elevated readings, a pattern observed in previous years [5] Future Outlook - Investors are anticipating the upcoming U.S. jobs report for January, which may provide insights into the Federal Reserve's potential rate cut decisions following a pause in rate cuts at the January meeting [6]