Crypto markets are poised for significant economic data from the US, assessing potential effects on Bitcoin prices and overall investor sentiment.
Fed Rate Cut Predictions and Impact on Crypto
Investors are anticipating that the US Federal Reserve will cut rates this week. Market forecasts indicate a 100% probability of a cut, with most expecting a 25 basis point reduction. Analysts believe that job revision data may significantly impact the Fed's decision, as reports suggest a reduction of up to 800,000 jobs from original figures.
Bitcoin and Ethereum ETF Flows
Recent data indicates that spot Bitcoin ETFs saw $246.42 million in inflows last week, while Ethereum ETFs experienced a record outflow of $787.74 million. This trend highlights investor confidence in Bitcoin amid current macroeconomic conditions.
Expectations for Inflation and Investor Sentiment
This week, the crypto market is looking for key inflation figures to be released. Anticipated events include the jobs revision, Producer Price Index (PPI), and Consumer Price Index (CPI) reports. A decrease in inflation or consumer sentiment could further bolster expectations for easing monetary policy.
The crypto market is poised for crucial data this week that could significantly influence Bitcoin prices. The outcomes of these events may shape future Federal Reserve actions.
