This week, the cryptocurrency market may face significant volatility as it reacts to a series of important economic reports from the U.S. Investors need to closely monitor these events to make informed decisions.
Key Events Schedule and Potential Impact
Tuesday (05/08): The U.S. trade deficit report will be released. It is expected that the deficit will decrease from $75.5 billion to $61.0 billion. If this figure turns out to be positive, it could boost overall market sentiment, including in crypto. Conversely, if the deficit is higher than expected, the market may face selling pressure.
Wednesday (06/08): The Bank of England (BoE) will announce its interest rate decision. Although not directly from the U.S., the decision from #BoE could influence global investor sentiment. At the same time, speeches from Fed officials such as Lisa Cook and Susan Collins will be closely monitored for clues about future monetary policy. "Hawkish" signals may put pressure on risk assets like crypto.
Thursday (07/08): Data on first-time unemployment claims will be released. If the claims rise higher than forecasted, this may raise concerns about the health of the economy, leading to caution in the market. The speech of Atlanta Fed President Raphael Bostic will also be a focal point.
Saturday (09/08): Fed Vice Chair for Supervision Michelle Bowman will give a speech. Her statements may provide further insights into the Fed's stance, particularly regarding inflation and interest rates.
Advice for Investors
The cryptocurrency market sentiment is very sensitive to macro developments. Therefore, investors should be cautious, manage risks well, and prepare for the possibility of significant market fluctuations this week. #anhbacong
