The crypto market started the week with a massive drop, wiping out $260 billion in just 24 hours. With Bitcoin and altcoins experiencing heightened volatility, as tensions rose over new US trade tariffs and global economic concerns. Now, all eyes are on five major US economic events that could shake the crypto market even more this week.
One of the most significant events is the release of the Federal Open Market Committee (FOMC) minutes from its March meeting, revealing clues about future interest rates. Last month, the Fed kept interest rates at 4.50%, and they are expected to stay the same this month.
If the Fed hints at keeping rates high, Bitcoin might drop further as investors move to safer assets. On the other hand, if the Fed signals rate cuts, crypto prices could surge as investors look for high-growth opportunities.
Another closely watched metric is the weekly Initial Jobless Claims report, which will give a real-time snapshot of the U.S. labor market. A lower number of claims would indicate a stable economy, possibly reducing demand for Bitcoin as a hedge against uncertainty.
Meanwhile, if jobless claims rise, concerns over a weakening economy could push the Federal Reserve towards policy adjustments, potentially boosting crypto markets.
Another key event on Thursday is the release of the Consumer Price Index (CPI), which tracks inflation by measuring changes in consumer prices. If inflation remains high, the Fed might delay rate cuts, which could hurt Bitcoin.
A lower-than-expected CPI, however, could increase the chances of rate cuts, boosting investor confidence in crypto.
11 April will bring another key economic report, which will measure inflation at the production level. A sharp rise in PPI could mean inflation is still a problem, making it harder for the Fed to cut rates. If PPI remains stable, it could ease inflation fears and help push Bitcoin higher.
Friday is about to release another key data. However, this report measures how confident Americans feel about the economy. If confidence is high, investors may prefer stocks over crypto.
But if confidence drops, Bitcoin could see a surge as people look for safe-haven investments.
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