🔍5 US ECONOMIC INDICATORS THAT COULD IMPACT THE CRYPTO MARKET THIS WEEK

1️⃣PMI Services (ISM & S&P Global)

The forecast for the April services PMI ranges around 50.4–51.0. If the index is below 50, it indicates an economic contraction, which may lead investors to seek Bitcoin as a safe-haven asset. Conversely, an index above 50 reflects expansion, which could reduce the appeal of crypto.

2️⃣FOMC Meeting & Fed Chair Jerome Powell's Speech

The market expects interest rates to remain at 4.25%–4.5%. However, Powell's tone will influence market sentiment: if he speaks in a "hawkish" manner, the USD may strengthen, putting pressure on Bitcoin prices; if "dovish", risk sentiment may increase, supporting crypto prices.

3️⃣US Trade Deficit

The trade deficit for March is forecasted to be -$136 billion, an increase from the previous month. A large deficit could weaken the USD, supporting Bitcoin prices due to the inverse relationship between BTC and USD.

4️⃣Consumer Credit Data

Expected to increase by $11 billion after a decrease of $800 million previously. An increase in consumer credit suggests optimism, which may lead investors to shift from crypto to traditional markets. Conversely, a decline in credit could drive demand for Bitcoin as a hedge against economic recession.

5️⃣Unemployment Claims

Forecasted at 230,000 claims, down from 241,000 the previous week. A decrease in claims indicates a strong labor market, which may bolster the USD and put pressure on crypto prices. Conversely, an increase in claims could drive demand for Bitcoin as a safe-haven asset.