The digital asset market has started the week on a downward note. With the global economic focus on the Fed and Nvidia, investors pay close attention to upcoming developments.
What Awaits the Fed?
Markets are gearing up for the pivotal day of the week with the Fed's interest rate decision in the spotlight. Last week's tariff chaos left traders in uncertainty, impacting investor sentiment. While slower economic growth could push the Fed to cut rates, rising inflation might keep them from making changes.
Key Events This Week
This week is packed with significant economic data. Monday will see the release of February retail sales data, followed by housing stats on Tuesday. Wednesday will be crucial with the Fed's interest rate decision and Jerome Powell's press conference. Meanwhile, AI enthusiasts anticipate Nvidia CEO Jensen Huang's speech at the GTC conference, with AI stocks potentially set to soar.
Will Bitcoin ETFs Hold Strong?
Despite a slight dip in the total digital asset market cap, investors are closely watching Bitcoin ETF movements. A significant inflow of BTC into ETFs was observed at the start of the year, but the situation shifted by mid-March. As of now, ETFs hold a substantial portion of the BTC market, led by Blackrock and Fidelity. Meanwhile, Ethereum and XRP show divergent trends in the market.
This week promises to be interesting with economic developments that could significantly impact both the crypto market and the global economy at large.
