Top 4 Crypto Market Events To Watch This Week

The crypto market today stands at roughly $2.67 trillion, reflecting renewed investor optimism across major digital assets. Bitcoin is trading well above $77,000 following the continuation of the robust performance last week. 

Ethereum price has been trading above the $2,300 mark, which indicates a stable buyer demand. XRP remains above the major breakout point of $1.41. Momentum indicators on the major tokens indicate that buyers are still going. Let’s uncover top 4 crypto events to watch this week.

US Market Reopen and Geopolitical Developments

On April 27, the U.S. market will be reopened after the war is proposed to be ended by Iran, and this will be observed by global investors. Investor risk-sensitivity to such assets as cryptocurrencies is usually affected by geopolitical tensions. Any indication of diffusing tension might enhance wider market feeling. 

A more peaceful geopolitical environment can prompt traders to become more exposed to digital assets. But optimism could soon turn sour, particularly in case of uncertainty or a revival of tensions. The crypto markets are generally quick in responding to global politics.

Bank of Japan Interest Rate Decision

The Bank of Japan will announce its next interest rate decision on April 28. Foreign exchange and bond markets will immediately react to any changes. The Japanese decision may be far away but global liquidity is linked. 

An unexpected move may impact the U.S. dollar and global sentiment. Digital investors can respond to changes in global liquidity. A stable Bank of Japan policy might help maintain a positive digital sentiment.

FOMC Meeting and Major Tech Earnings

Federal Open Market Committee is to meet on April 29 and markets anticipate no change in the rates. The traders are now pricing high chances of the target rate being around 3.75 percent. The comments of the chairman Jerome Powell will be under serious scrutiny by international investors. A dovish statement would tend to boost risky assets, such as cryptocurrencies. 

Top 4 Crypto Market Events To Watch This WeekTop 4 Crypto Market Events To Watch This Week
Source: FedWatch data

Hawkish indications or inflation fears would strain prices throughout digital tokens. Alphabet, Microsoft, Amazon, and Meta earnings reports can also have an impact on sentiment. Powerful technology returns usually enhance trust in growth-oriented investments.

Core PCE Inflation and ISM Manufacturing PMI

On April 30, there will be the release of core PCE inflation and new data on jobless claims. The economists predict that PCE will be near 2.8% inflation. An increase in the reading could lower the anticipations of rate cuts. The improvement in data on the cooler inflation would support the hopes of the relaxation of monetary policy. 

May 1 will see investors evaluating the ISM Manufacturing PMI report. A reading of above 50 indicates growth in the manufacturing sector. The ongoing economic vigor can shape the expectations of the Federal Reserve policy. The volatility in crypto markets might be even more intense during this contracted period.

Source: https://coingape.com/markets/top-4-crypto-market-events-to-watch-this-week/