Three Factors That Might Disturb Cryptocurrency Markets This Week

The US central bank is expected to announce its decision on interest rates this week, with a high probability of rates remaining unchanged. This follows a period of market instability triggered by an unexpected Q1 GDP contraction and ongoing trade tensions between the US and China.

Key economic events this week include the release of April’s ISM Services PMI and S&P Global Services PMI reports on Monday, and a Consumer Credit Change report on Wednesday. Additionally, 20% of S&P 500 companies are expected to report earnings.

The cryptocurrency markets started the week with a decline, with total capitalization dropping by 3.3% and Bitcoin sliding below $94,000. Ethereum and several altcoins also experienced significant falls as markets began the week on uncertain terms.