MARKETS week ahead: March 22 –28Crypto Total Market Cap, $CRYPTOCAP:TOTALXBTFXLast week in the news Fed left interest rates unchanged, however, macro risks continue to loom amid surging in oil prices which could easily be reflected in inflation. The increased inflation means increased probability that central bankers could even increase interest rates, instead of decreasing them. This was the major premise of investors, which shapes developments on financial markets. The S&P 500 continued its fourth losing week, closing Friday at 6.506. On the same premises, US 10Y yields surged to 4,39%, while the price of gold tumbled around 10%, closing Friday at $4.491. The only market that is holding its ground during this period of time is the crypto market. BTC tried to pass the $75K resistance, but still, reverted back toward the $70K as of the end of the week. The Fed kept rates unchanged as expected, but the overall message remained cautious and slightly hawkish. Policymakers highlighted rising uncertainty, particularly from higher oil prices, which could push inflation higher and delay easing of the monetary policy. The Fed signaled it is not in a rush to cut rates, maintaining a data dependent stance while acknowledging inflation risks remain above target. At the same time, projections still point to limited easing later this year, though confidence in that path has weakened. Markets reacted to the tone rather than the decision, with investors increasingly considering the possibility that rates could stay higher for longer, or even rise if inflation reaccelerates. The European Central Bank also held its meeting this week, holding rates unchanged, as expected. However, the ECB President Christine Lagarde delivered a more hawkish message, stressing increased uncertainty and signaling readiness to act if inflation risks intensify. The return of “closely monitoring” language indicates a higher level of alert, especially as risks to inflation are now seen on the upside. ECB projections show moderate growth and inflation gradually near target, though oil price shocks could worsen the outlook under adverse scenarios. Lagarde suggested the ECB will react only if energy-driven inflation spreads more broadly into the economy, particularly through wages and demand. Shares of Super Micro Computer fell sharply, around 30%, after prosecutors charged several executives with illegally smuggling advanced Nvidia AI chips to China. The decline reflects investor concerns over potential legal liabilities, regulatory scrutiny, and disruptions to the company’s operations due to the export control violations. OpenAI plans to nearly double its workforce from about 4,500 to roughly 8,000 employees by the end of 2026, as part of a major push into the enterprise AI market, according to Financial Times reports. The hiring will be concentrated in product development, engineering, research and sales to support business deployments of its tools and compete more effectively with rivals. This move signals an intensified focus on enterprise clients and scaling operations amid heightened competition across the AI sector. CRYPTO MARKET While general correction on traditional markets continues, the crypto market surprisingly is managing to hold its grounds strongly. During the week, BTC even tried to break the $75K resistance, showing that investors' capital is returning in a shy manner to the crypto market. Macro clarity will be more productive from the perspective of investors sentiment, however, the current war in Iran is supporting fears of potential inflation and increased interest rates in the future, which is also affecting the crypto market in terms of investors' reluctance for a return at this moment. Total crypto market capitalization remained flat during the previous week. Daily trading volumes were modestly decreased to the level of $125B on a daily basis. Total market capitalization since the beginning of this year currently stands in a negative territory of -19%, with a total outflow of -$546B. BTC and ETH once again set the tone for the market. Bitcoin remained relatively flat for the week, regardless of the previous shift toward the $75K. In contrast, Ethereum continued to move higher, advancing 3.4% w/w, suggesting stronger relative momentum among large-cap altcoins. Among other major assets, XRP recorded a solid 3.4% increase, while Solana gained 3.2% and Litecoin moved 2.5% higher. The strongest performer among majors was Zcash, which surged 10.8% w/w. DOGE also stood out with a 9.1% increase, supported by a notable expansion in circulating supply. Filecoin rebounded with an 8.9% gain, while Hyperliquid advanced 4.8% during the week. Several coins ended the week in negative territory, like Uniswap falling 9.0% w/w. SUI also faced pressure with a 3.2% decrease, while Algorand declined 2.7% and Theta slipped 2.3%. Outside of the majors, several tokens delivered strong upside performance. Artificial Superintelligence Alliance (FET) led with a 29% weekly gain, followed by DeXe with a 23% increase, while Kaspa advanced by 20% w/w, positioning them among the top performers in the broader crypto market. Circulating supply dynamics showed some notable movements this week. DOGE recorded a significant increase of 10.3% w/w, marking the largest supply expansion among all assets. IOTA also saw a meaningful rise of 1.2%, while XRP increased supply by 0.2%. Filecoin registered a 0.2% increase, and several other assets, including Solana, Zcash, DASH and POL, posted 0.1% growth. Hyperliquid remained the only asset with a slight 0.2% decrease in circulating supply. CRYPTO FUTURES MARKET Bitcoin futures edged lower this week, interrupting the prior recovery phase with a modest and broadly distributed pullback across the curve. The March 2026 maturity declined by 1.55% w/w, settling at $70,220. Similar losses were observed along the term structure, with weekly declines ranging between 1.48% and 1.55%. The December 2027 maturity closed at $77,045, down 1.50% on the week. The relatively uniform nature of the move suggests a parallel downward shift, pointing to mild profit-taking rather than a renewed wave of aggressive selling. In contrast, Ether futures continued to move higher, extending their recent upward momentum. The March 2026 contract settled at $2,133, rising 1.23% w/w. Gains were consistent across maturities, ranging from 1.22% to 1.37%, with the strongest increases observed toward the long end of the curve. The December 2027 maturity closed at $2,361, up 1.37% on the week, indicating sustained demand for longer-dated exposure. The divergence between Bitcoin and Ether futures highlights a more selective market environment, with Ether maintaining positive momentum while Bitcoin undergoes a modest consolidation. Despite this divergence, both futures curves remain in contango, with longer-dated maturities trading at progressively higher price levels. This structure continues to reflect expectations of higher valuations over the longer term, even as short-term dynamics vary between the two assets.