🚀 4 Key Factors That Could Impact Bitcoin’s Price This Week 🏆
Bitcoin is facing strong headwinds after last week’s announcements regarding the strategic Bitcoin reserve. Even Trump’s statement to "never sell your Bitcoin" at Friday’s crypto summit wasn’t enough to push BTC back over $90K, leading to further weekend losses.
With major economic data releases ahead, here’s what traders need to watch:
📊 Key Economic Events (March 10 - 14):
1️⃣ JOLTS Job Openings Data (Tuesday) – Insights into labor market strength.
2️⃣ EIA Short-Term Energy Outlook (Tuesday) – Impact on macroeconomic conditions.
3️⃣ February CPI Inflation Data (Wednesday) – A key driver for Fed policy.
4️⃣ Initial Jobless Claims Data (Thursday) – Labor market trends update.
5️⃣ February PPI Inflation Data (Thursday) – Producer costs & inflation outlook.
6️⃣ Consumer Sentiment Report (Friday) – Expectations on future inflation.
🔥 Why This Matters for Bitcoin:
Higher-than-expected CPI data could cause another sell-off, as seen in February.
The Federal Reserve’s next meeting (March 18-19) is approaching, and inflation trends will shape its decision on interest rates.
Bitcoin fell 4.5% to $80K in early trading on Monday before bouncing back to $82K, but remains down 11% for the week.
Ethereum hit a 16-month low of $2,000, with major altcoins bleeding (Solana, Cardano, Dogecoin, Chainlink, etc.).
📢 Crypto Market Outlook:
Total crypto market cap dropped 6.5%, signaling weaker sentiment.
With inflation & Fed policy uncertainty ahead, BTC & the broader market could see more volatility.
💡 What’s Your Game Plan? Will Bitcoin recover, or is more downside coming? Share your thoughts! ⬇️🔥 #Bitcoin #Crypto #BTC #Inflation #MarketUpdate
