Stay Alert: US Economic Calendar for the Week Ahead 📅
As a crypto investor, you need to keep a close eye on the US economic calendar this week as key events could impact market sentiment and direction. Here are the events to watch out for:
Inflation Data in Focus 🔍
On Tuesday, new home sales data will give insight into the overall economy, while the S&P Global PMI readings will shed light on business conditions in the manufacturing and services sectors. The highlight of the week will be the release of Q1 2024 GDP data on Thursday, along with the Core PCE report on Friday, a crucial gauge for inflation.
- Stay informed about new home sales figures and manufacturing PMI readings
- Keep an eye out for the Q1 GDP growth estimate and Core PCE report
- Watch for any deviations in inflation figures that could impact market sentiment
Market Momentum and Crypto Prices 📈
Over the weekend, the crypto market cap reached $2.5 trillion, with Bitcoin leading the way. BTC prices held above $66,000, while Ethereum reclaimed $3,200. Altcoins like LINK, NEAR, and DOT also saw gains. However, market volatility could increase based on the upcoming economic data releases.
- Bitcoin remains range-bound above $66,000 post-halving event
- Ethereum recovers to $3,200, with altcoins showing gains
- Expect potential market volatility based on upcoming economic data
Hot Take: Be Prepared for Market Swings 🚀
As you navigate the crypto market this week, be prepared for potential swings due to the key economic data releases in the US. Stay informed, stay vigilant, and adapt your strategy as needed to navigate the shifting market conditions. Happy trading!
By
By
By
By