tl;dr
This week's crypto markets are expected to face volatility due to four US economic data releases. The US PPI (Producer Price Index) report on Tuesday and the US CPI (Consumer Price Index) report on Wednesday are anticipated to have implications for crypto and could influence investor sentiment. Addi...
Crypto Markets Brace for Volatility
Crypto markets are bracing for volatility this week as a result of influential US economic data and Bitcoin's position below $100,000.
The US PPI report on Tuesday is expected to impact crypto markets by offering insight into inflation at the producer level.
Furthermore, the US CPI release on Wednesday could amplify doubts about the Fed’s ability to lower interest rates, potentially affecting Bitcoin.
Key earnings reports, including BlackRock, may have implications for institutional interest in Bitcoin and Ethereum, and Thursday's Initial Jobless Claims report could signal labor market softening, impacting Bitcoin and the USD.
President-elect Donald Trump’s inauguration on Monday could involve a US Bitcoin Strategic Reserve, adding significance to the week for crypto.
This week's crypto markets are expected to face volatility due to four US economic data releases. The US PPI report on Tuesday and the US CPI report on Wednesday are anticipated to have implications for crypto and could influence investor sentiment. Additionally, key earnings reports from major financial institutions and the weekly jobless claims report on Thursday will be closely watched for potential impacts on the crypto market.
The latest data shows Bitcoin trading at $94,045, with analysts suggesting the potential for further downsides in the market.
Crypto markets must brace for volatility this week, with four US economic data capable of influencing investors’ portfolios. These macroeconomic data come as Bitcoin (BTC) remains below the $100,000 mark. Analysts anticipate further downsides, but a glimmer of hope remains, pegged to Donald Trump’s inauguration in seven days.
PPI
The US PPI (Producer Price Index) data will be out on Tuesday, providing insight into inflation at the producer level and early signals about future consumer prices, potentially influencing investor sentiment.
This week’s US PPI report will disclose December’s producer-level inflation, with a median forecast of 0.3%, down from 0.4% in November. Any significant deviation from expectations could influence rate-cut expectations and market sentiment.
CPI
As the market awaits the CPI release on Wednesday, higher-than-expected inflation could amplify doubts about the Fed’s ability to lower interest rates, potentially strengthening the US dollar and exerting downward pressure on Bitcoin.
BlackRock Earnings
Key earnings reports this week include BlackRock, Citigroup, Goldman Sachs Group, JPMorgan Chase, and Wells Fargo on Wednesday, followed by Bank of America and Morgan Stanley on Thursday. BlackRock’s report will be closely watched due to its prominent role in driving institutional interest in Bitcoin and Ethereum through its exchange-traded funds.
Initial Jobless Claims
Thursday's jobless claims report will provide signs of labor market softening, potentially signaling steady consumer spending and a resilient economy. However, such strength might prompt the Federal Reserve to consider raising interest rates, potentially affecting Bitcoin.
Bitcoin is trading at $94,045, a 0.5% dip since Monday’s session opened, according to BeInCrypto data.
It is worth mentioning that this week’s US macroeconomic data come ahead of President-elect Donald Trump’s inauguration on Monday, January 20, adding significance to the week for crypto.