5 Top Crypto News: US Economic Data to Steer Bitcoin’s Path?

In the latest crypto news, the market is on the edge. Bitcoin, trading at $87,448 with a 3.35% gain on April 21, 2025, faces a pivotal week as five US economic indicators—the Leading Economic Index, Services PMI, Manufacturing PMI, Initial Jobless Claims, and Consumer Sentiment—are set to release and could each sway the market.

With US macroeconomic data driving crypto sentiment for months, these numbers could dictate Bitcoin’s next move. Here’s what’s coming and what it means for crypto.

Leading Economic Index: A Slowdown Signal

The Conference Board’s LEI, due April 21, 2025, is a forward-looking gauge of economic health. February 2025 saw a 0.3% month-over-month drop, and March’s median forecast is a 0.5% decline, with a consensus of -0.6%.

This follows a revised 0.1% rise in December 2024, per Conference Board. A falling LEI often signals economic headwinds, which could curb risk appetite.

For Bitcoin, this could mean downward pressure, though its “digital gold” narrative might draw buyers if tariff fears spike.

Services PMI: Strength Under Scrutiny

Wednesday’s S&P Global Services PMI for April, forecasted at 53.0, follows March’s robust 54.4, up from 51.0 in February.

The composite PMI hit 53.5, reflecting solid consumer demand. Strong services activity could fuel risk-on sentiment, potentially lifting Bitcoin if equities rally, given its occasional Nasdaq correlation.

But Trump’s tariff policies cloud the outlook. Analysts warn that tariff uncertainties could cap any negative pressure, keeping the impact neutral to slightly bearish for crypto prices, as dollar strength often overshadows gains.

Manufacturing PMI: A Bearish Omen

Also on Wednesday, the Manufacturing PMI could weigh heavily. March 2025’s S&P Global reading was 50.2, down from 52.7, while ISM’s was 49.0, signaling contraction. October 2024’s ISM hit 46.5.

Weak manufacturing reflects high interest rates and tariff-driven uncertainty, per Moody’s Analytics and Statista.

Weak manufacturing data signals reduced risk appetite, likely exerting downward pressure on Bitcoin. This could hit crypto hard, especially with equity markets sensitive to slowdown fears.

Initial Jobless Claims: A Glimmer of Stability

Thursday’s Initial Jobless Claims for the week ending April 19 reported 215,000, down from 223,000. This dip suggests labor market stabilization, which could ease fears of economic decline.

Lower claims might spark hopes of Fed rate cuts, indirectly supporting Bitcoin by boosting liquidity. However, persistent inflation and trade policy volatility limit optimism.

Analysts note that “66% of Americans expect higher unemployment in the next 12 months, the highest share since the GREAT FINANCIAL CRISIS.Such sharp spikes have never occurred outside of recessions. The job market is set to get worse pretty quickly.”

Unemployment‑benefit filings heavily shape Bitcoin’s mood; a slight pullback can soften recession warnings. A sharper decline, by fueling hopes for looser monetary policy, would boost liquidity, depress yields and likely lift Bitcoin price.

Consumer Sentiment Affecting Crypto News: Pessimism Prevails

Friday’s University of Michigan Consumer Sentiment, at 50.8 in March 2025, reflects tariff fears and inflation concerns.

This is near historic lows, with analysts highlighting that “US consumer sentiment is LOWER than in the GREAT FINANCIAL CRISIS:Consumer sentiment fell to 50.8, the 2nd-lowest level in HISTORY.”

Retail confidence drives much of Bitcoin’s demand. When it falls, appetite for riskier assets wanes, often dragging crypto prices down amid a cautious mood.

A recovery in optimism or easing tariff concerns might spark a rally, but that seems doubtful right now. Overall, waning sentiment points to a bearish outlook as broader economic caution prevails.

Crypto News: What It Means for Crypto Prices

The data paints a mixed picture. Weak LEI, Manufacturing PMI, and Consumer Sentiment could create a bearish environment, pushing Bitcoin below its $84,000 support level.

Strong Services PMI and lower Jobless Claims might offer relief, but tariff fears and a strong dollar could cap gains.

“It’s that time of the month when the markets get their regular check-up. Here’s what’s coming up, and trust me, it’s enough to make even the most seasoned traders check their coffee levels,” an X user remarked. With stagflation fears rising, Bitcoin’s path remains uncertain.

Crypto traders should brace for volatility. Bitcoin’s resilience will be tested as these indicators roll out. Investors must weigh bearish signals against potential risk-on triggers, all while navigating tariff-driven uncertainty. This week’s data will set the tone for the crypto market’s near-term trajectory.