The crypto market braces for a pivotal week as the release of critical economic data, particularly the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), approaches. These figures hold immense power over investor sentiment and cryptocurrency valuations.
Focus on Inflation and Fed Policy
Market participants keenly await these indicators to gauge inflation trends and the Federal Reserve’s (Fed) potential rate cut decisions. The upcoming release of the March FOMC meeting minutes and the monthly U.S. Federal Budget will further illuminate the economic landscape.
Robust Job Market Fuels Debate Over Rate Cuts
Despite a robust job market reflected in March’s nonfarm payroll figures, concerns linger regarding the Fed’s hawkish stance. The strong job data might push back anticipated rate cuts, impacting market sentiment.
Bitcoin Halving Anticipation Adds to Volatility
While investors anticipate potential rallies in Bitcoin and the broader crypto market pre-halving, short-term volatility post-halving remains a concern.
Wednesday, April 10th: Release of CPI data, FOMC meeting minutes, and U.S. Federal Budget.
Thursday, April 11th: Release of PPI data.