3 Assets to Watch: Feb 23-27



At the onset of the week, global economies are wrestling once again with tariff uncertainties.

Last Friday (Feb 20th), the US Supreme Court struck down President Trump's tariffs - a key event risk we'd had already highlighted last week.

At the time of writing this Monday, Feb 23rd:

• US stock futures are down 0.6 - 0.9%, with Bybit's SP500 - which tracks the benchmark S&P 500 - resisted at its 50-day simple moving average (SMA) once more.

• The US dollar is weakening against all of its G10 and Asian peers, except against the Australian Dollar (AUDUSD+) which is flat, amid concerns over the state of the US fiscal position

• Gold (Bybit: XAUUSD+) is buoyed above the psychologically-important $5100 level, while Silver (XAGUSD) is rebounding towards the $90 psychological level, amid rising demand for "safe havens" (assets which help investors protect their wealth during times of heightened risks and uncertainties).

Traders, investors, even governments worldwide must navigate this latest bout of tariff uncertainties in a week that still hosts top-tier macroeconomic events.



Still, this week's scheduled events could in turn produce massive not-to-be-missed trading and investing opportunities across various asset classes.



3 Assets to Watch This Week



1) Nvidia



The world's most valuable company is set to unveil its latest quarterly financial results after US markets close on Wednesday, February 25th.

Options markets predict this stock could move 4.4% up/down after its earnings announcements.

Of late, the AI narrative has swung between concerns over AI spending's eventual ROI, versus AI's disruptive nature that could upend entire industries (think: real estate, insurance brokers, wealth managers, etc.)

POTENTIAL SCENARIOS:

• Nvidia's share price could rise over 4% if the company strikes a bullish outlook on robust AI earnings which allays overspending fears.

• Nvidia's share price could fall over 4% if the company's earnings outlook fails to dampen fears that today's aggressive AI spending will not produce the desired ROI anytime soon.

NOTE: Given NVIDIA's sheer size, with a market cap of US$ 4.6 trillion, the market's reaction to its earnings may shift broader US stock indices as well, such as the SP500 and NAS100.

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2) USDJPY+



The Japanese Yen remains the biggest loser (down 3.1%) over the past 12 months among G10 currencies against the US dollar. However, JPY has strengthened back to around its 100-day SMA vs. USD of late.

NOTE: USDJPY falls when the Yen is gaining against the US dollar, and vice versa.



Besides tariff fears, here are this week's major events that could rock USDJPY+:

• Tue, Feb 24th: President Trump's State of the Union Address

• Fri, Feb 27th: Japan's economic data releases (Tokyo February CPI; Japan January retail sales and industrial production)



POTENTIAL SCENARIOS:

• USDJPY may rise towards 156.60 (US dollar rebound) if President Trump can convince markets that the US economic outlook and government fiscal position remains robust.

• USDJPY may fall towards 152.30 (weaker USD, stronger JPY) if Japan's economic data exceeds market expectations that allows the Bank of Japan (BoJ) to raise interest rates.

NOTE: Markets currently predict a 70% chance that the BoJ will hike rates in April 2026.

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3) BTC to rebound off 200-week simple moving average?



Prices of the world's biggest cryptocurrency have largely moved sideways in recent weeks, trading within sub-$70k territory and still about 50% below its record intraday high of $126,195.50 posted back in Oct 2025.

Although bears have been firmly in control since the October liquidation event, traders will be keeping a close watch on Bitcoin's 200-week simple moving average (SMA) - a critical long-term support for Bitcoin prices.



POTENTIAL SCENARIOS:

• If Bitcoin falls to its 200-week SMA around $58,500, that could send a signal for traders to "buy the dip" en masse and help BTC rebound.

• If Bitcoin registers a weekly close below its 200-week SMA, that could send BTC prices to the lower-$50k region - price levels not seen since Q3 2024.

READ MORE: Bitcoin bear market - is the end near? (published Feb 11th, 2026)



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For more TradFi trading ideas and inspiration, tune in to our special livestream with Bybit Learn's Chief Market Analyst, Han Tan, and Brandon Hong, trader and influencer, on Tuesday, Feb 24th @ 3:00PM UTC.