The beginning of the week promises to be filled with important events affecting the cryptocurrency market. Announcements about tariffs and economic data from the U.S. will have a significant impact.
Major Developments in Cryptocurrency
The PCE data released last Friday disrupted risk markets once again, initiating a downward trend. Sales accelerated alongside the weekend’s low trading volume. The losses in Bitcoin and altcoins reflect concerns over tariffs set to be announced on April 2. While recent U.S. data indicates a resurgence in inflation, the Fed’s cautious stance has notably slowed down the pace of balance sheet reduction, which is promising.
April 1st Events Calendar
April 1, Tuesday: - 16:00 Fed Member Barkin Speaks - 16:45 U.S. S&P Manufacturing PMI Final (Expectation: 49.8 Previous: 49.8) - 17:00 U.S. JOLTS (Expectation: 7.68M Previous: 7.74M) - 17:00 U.S. ISM Manufacturing PMI (Expectation: 49.5 Previous: 50.3) - 17:00 U.S. Construction Spending Monthly (Expectation: 0.3% Previous: -0.2%)
Critical Moment for Cryptocurrencies
The first week of April marks a critical period with the announcement of tariffs and incoming U.S. data. We will witness how concerns regarding tariffs affect the labor market and the economy through the forthcoming data releases. Both PMI and employment figures are significant, and Powell’s comments will be closely monitored. Details regarding tariffs in the ECB minutes could trigger sudden fluctuations.
This week is crucial for the cryptocurrency market as numerous economic data and announcements can create significant fluctuations and determine the market's future direction.
