Cryptocurrency markets are experiencing significant volatility in anticipation of Donald Trump's inauguration. Markets are also awaiting new economic data.
Market Fluctuations
On Monday morning, digital assets experienced high volatility, with Bitcoin dropping below $100,000, only to bounce back and reach a new all-time high over $109,000. The week began with a loss of over 6% in crypto market capitalization, amounting to more than $200 billion.
Week's Economic Events
This week, the focus is on Donald Trump's inauguration on Monday and new economic data releases. Initial jobless claims reports will be released on Thursday, followed by S&P Global PMI and December's home sales figures on Friday. The European Central Bank is also meeting this week.
Crypto Market Prospects
Cryptocurrency markets retain the potential for further fluctuations amid economic and political events. Many investors are watching closely to see what steps governments and financial institutions will take in response to the current situation.
This week promises to be eventful for both traditional markets and crypto investors. Volatility prompted by political and economic events will continue to impact the markets, necessitating careful attention from market participants.
