Crypto Market: 5 Key Events Shaping It This Week

The crypto market is set for a volatile week. April CPI and PPI data, the SEC roundtable conference, Fed Chair Jerome Powell’s speech, retail sales, and consumer confidence data will shape the market. 

April Inflation Data: CPI and PPI 

First, the April Consumer Price Index (CPI) report will be released on May 13. This data reveals inflation trends. A low CPI increases the likelihood of Fed rate cuts, boosting the crypto market. However, high inflation strengthens rate hike pressures, pushing the market down. Additionally, the Producer Price Index (PPI) report arrives on May 15. PPI measures production costs and guides Fed policies. High PPI is said to trigger a sell-off wave in crypto assets. 

SEC Crypto Roundtable Conference 

Also, on May 13, the SEC is holding a roundtable conference. SEC Chair Paul Atkins will speak on asset tokenization. The conference will discuss the integration of traditional finance with decentralized finance (DeFi). Positive regulatory messages could rapidly boost the value of assets like Bitcoin and Ethereum. On the other hand, signals of strict regulation may spark fear in the market. This event will chart the crypto market’s course. 

Powell’s Speech and Additional Data 

Finally, Fed Chair Jerome Powell will speak on May 15. Powell’s remarks on interest rate policies will shake the market. A dovish speech could lift prices, while hawkish comments may trigger a decline. On the same day, retail sales data will reflect economic strength. Strong data increases rate hike expectations, dragging crypto down. On Friday, the Michigan Consumer Confidence data will be released. High confidence may bolster stocks while overshadowing the crypto market. 

These five events will create volatility in the crypto market. Investors should closely monitor these developments and plan their moves accordingly. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.