The crypto market is expected to experience significant price fluctuations this week due to several key macroeconomic events. From August 25 to 29, important economic data may influence financial market directions.
New Home Sales Data
According to expectations, new home sales data will be released today. It is anticipated that sales will rise from 627,000 to 632,000. If this information is confirmed and shows a significant increase, it may lead to higher consumer spending and economic growth, which in turn would boost investor confidence in traditional assets and potentially drain funds from cryptocurrencies like Bitcoin.
Nvidia’s Earnings Report
Nvidia's earnings report, set to be published on Wednesday, may have a significant impact on the crypto market. Strong results could drive up AI-related tokens, while disappointing results may put pressure on the Nasdaq and cryptocurrencies.
US GDP and Economic Indicators
The US economy saw a growth of 3% in Q2, rebounding from a 0.5% contraction in the previous quarter. The forecast for the first revision of the GDP reading is pegged at 3.1%, up from 3.0%. Additionally, two key reports will be published on Friday: the Consumer Sentiment Index and the PCE Index. The PCE reading is expected to rise by 0.2%, while the Consumer Sentiment Index is forecasted to remain at 58.6.
Considering these macroeconomic events, the crypto market may face increased volatility. Actual data may influence cryptocurrency prices in the coming days.
