Cryptocurrency on the brink: 5 key events in the U.S. that could shake the market this week
The cryptocurrency market starts the week with a loss of $260 billion in just 24 hours, due to volatility, U.S. trade tensions, and global economic concerns. All eyes are now on five key U.S. economic events that could shape the next major moves in cryptocurrency:
1. April 9 – FOMC Meeting Minutes: Investors will analyze the March Fed meeting minutes for clues about interest rates. A hawkish tone could pull cryptocurrency prices down, while a dovish signal could spur a rally.
2. April 10 – Initial Jobless Claims: An increase in initial jobless claims may signal economic stress and drive demand for cryptocurrency; fewer claims may reduce that appeal.
3. April 10 – CPI Inflation Data: High inflation may delay the Fed's interest rate cuts, putting pressure on Bitcoin. A softer CPI reading could do the opposite – ignite market optimism.
4. April 11 – PPI Report: Rising production costs may raise inflation concerns and impact cryptocurrency, while stable data could ease worries and support price growth.
5. April 11 – Consumer Sentiment Index: If Americans feel less confident about the economy, Bitcoin may benefit as a hedge. However, high confidence may shift interest towards traditional markets.
The data this week is predicted to be a turning point for cryptocurrency investors in the midst of turbulent waters.#TrumpTariffs