Aside from Strategy’s announcement of a $1.42 billion Bitcoin purchase on April 28, the quietness in cryptocurrency news this week could mean less spot demand and a weakening test of Bitcoin price support levels.
This week is also eventful on the macroeconomic data front. On April 29, the U.S. Job Openings and Labor Turnover Survey (JOLTS) report will be released, which could provide insights into how the labor market is digesting the U.S.-led trade war and tariffs.
Friday will see the release of the employment report, which could show “a real big pause in the economy” given the recent volatility caused by tariffs.
The U.S. core personal consumption expenditures (PCE) forecast will be released on April 30, which will clearly reflect any major shift in U.S. inflation.
