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Author: Admin | 2025-04-28
Crypto market participants have a lot to look forward to this week, with 5 US economic data due for release starting Tuesday. The market is already abuzz, anticipating the implication of these events on Bitcoin (BTC) and crypto markets in general.The influence of US macro data on Bitcoin continues to remain apparent after a period of dissipated or dried-up effect in 2023. Consumer ConfidenceThe first US economic event with crypto implications this week is the consumer confidence survey on Tuesday, January 28. This survey reflects likely spending trends, showcasing consumer attitudes, buying intentions, and vacation plans, among other things. There is a median forecast of 106.3 after the previous 104.7. Enhanced consumer confidence would suggest that people are open to spending more money, hence increasing economic activity. This would potentially drive more investments into cryptocurrencies like Bitcoin.Conversely, a pullback in consumer confidence could lead to decreased spending and investment. It would support a more dovish path for the Federal Reserve (Fed), leading to increased liquidity in the financial system.This may be favorable for Bitcoin as investors seek alternative stores of value and hedges against inflation. Therefore, the Tuesday data will be important for crypto markets, measuring how optimistic or pessimistic consumers are about the overall state of the economy.FOMC and Fed Chair’s SpeechBeyond consumer confidence, crypto markets are also watching the Federal Open Market Committee (FOMC) interest rate decision on Wednesday, January 29. It marks the first FOMC decision after President Donald Trump took office, making it an interesting watch.“Trump
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