7 Days Of Crypto: Key Events That You Should Keep An Eye On This Week
2024年3月26日 - 4:00AM
NEWSBTC
There are a couple of events to watch out for this week, as they
could prove pivotal in determining the future trajectory of the
crypto market. These events could provide some certainty to the
market or cause investors to wait on the sidelines for more
favorable market conditions. Events That Could Affect The
Market This Week Some Federal Reserve officials are scheduled to
speak at different events this week. One of them is Governor Lisa
Cook, who will give a lecture on March 25. Fed Chair Jerome Powell
will also participate in a discussion at the Monetary Policy
Conference on March 29. Related Reading: Bitcoin ETFs Bleed
For One Week Straight – Can Price Recover To $73,000? Their
speeches are significant as they could provide valuable insights
into the current state of the economy and what to expect from the
Federal Reserve regarding interest rates in its fight against
inflation. Macroeconomic factors like interest rates usually impact
the crypto market and partly determine the sentiments among crypto
traders. The crypto market is usually bullish whenever the Federal
Reserve adopts a dovish stance on whether or not to hike interest
rates. Therefore, these officials sounding positive in their
speeches could help boost investors’ confidence in the crypto
market since they would be less worried about things on the macro
side. Meanwhile, several economic data will be released this
week, including the Consumer Confidence and Consumer Sentiment data
and the Personal Consumption Expenditures (PCE) index. These
releases offer insights into the economy’s strength and guide the
Fed in deciding on future interest rate decisions. Crypto
Needs A Big Win This Week Stakeholders and investors in the
industry will no doubt hope that the events lined up for this week
will provide a momentum boost for the crypto market. Last week was
one to forget as things cooled after weeks of seeing the flagship
crypto, Bitcoin, and altcoins make significant runs. This downward
trend is believed to have been due to some external factors.
Related Reading: Bernstein Analysts Says Bitcoin Will Reach A New
ATH By Year End, Here’s The Target One of them is the net outflows
that the Spot Bitcoin ETFs recorded throughout last week, with many
investors taking profits from the various funds. These Bitcoin ETFs
had previously seen an impressive amount of inflows into them,
which positively affected Bitcoin’s price. As such, a trend of
outflows was also expected to influence Bitcoin’s price, although
negatively. These Spot Bitcoin ETFs will again be in the
spotlight this week, with the crypto community waiting to see if
the sentiments among the ETF investors will change. A sustained
trend of profit-taking this week could spark another decline in the
crypto market. Total market cap chart at $2.47 trillion |
Source: Crypto Total Market Cap on Tradingview.com Featured image
from CNBC, chart from Tradingview.com
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