5 US Economic Events With Crypto Market Implications This Week

Stocks recovered from yesterday’s decline, with the S&P 500 and the tech-heavy Nasdaq finishing the session 2.5% and 2.7% higher, respectively. Gold, meanwhile, sharply reversed from its record price of $3,500 during the day and was down 1%. He also added that he has no intention of firing Federal Reserve Chair Jerome Powell, following recent pressure on the head of the U.S. central bank to lower interest rates.

• This game was extremely popular in developing countries like The Philippines, due to the level of income they could earn.
• However, they all share the same moniker — every coin issued after Bitcoin is considered to be an altcoin.
• Fed Chair Jerome Powell could reaffirm previous comments about resisting premature rate cuts, or new signals might emerge.

The Federal Open Market Committee (FOMC) minutes from the March meeting are due on Wednesday. This US economic indicator will offer traders and investors a window into the Federal Reserve’s (Fed) monetary policy direction. CoinMarketCap does not offer financial or investment advice about which cryptocurrency, token or asset does or does not make a good investment, nor do we offer advice about the timing of purchases or sales. Please remember that the prices, yields and values of financial assets change. We recommend seeking the advice of a professional investment advisor for guidance related to your personal circumstances.

Consumer Sentiment

Accordingly, the next likely date for any policy changes, like the rate cut JPMorgan mentioned, is May 6-7. With so many crypto projects and products available, it can be hard to decide which ones are the best fit for your specific needs. Which is why we’ve created an extensive section specifically for reviewing and ranking projects in the market.

This would strengthen the dollar and pressure crypto prices downward as risk assets lose appeal. Five key US economic indicators could influence Bitcoin (BTC) sentiment this week amid heightened bearish sentiment in the crypto market. Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold.

A huge proportion of the value created and stored in cryptocurrency is enabled by smart contracts. With Bitcoin sensitive to dollar strength, participants should watch how PPI shapes Fed expectations. A balanced reading might stabilize sentiment, but surprises could trigger sharp moves. Given Bitcoin’s April performance dropping below $75,000, this data could dictate its next move. Volatility is almost certain, so participants must be ready for market reactions, especially as FOMC minutes will still be fresh in mind.

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BTC ETF booked over $381 million net inflows on Monday adding to Thursday’s $107 million, according to Farside Investors data. We receive updated cryptocurrency prices directly from many exchanges based on their pairs. A stark divergence from Thursday’s CPI could confuse markets and heighten volatility. Conversely, a lower CPI could reinforce expectations of rate cuts, boosting crypto as a store of value amid easing monetary policy. The previous CPI data showed inflation cooled to 2.8% in February.

Cryptocurrency Market Capitalization

However, rising claims could fuel recession fears, prompting the Fed to consider rate cuts. Historically, this has been a boon for crypto, as lower rates make borrowing cheaper and increase liquidity. In theory, it can be calculated by multiplying a coin’s current price by the total number of coins of its kind in circulation. If a coin is currently worth $100 and has a circulating supply of $30 million, we can get its crypto market cap by multiplying these two numbers—in this case, it’s $3 billion. Knowing a coin’s crypto market cap can help crypto users make better investments, as they’ll have a fact-based look at how a specific coin/token is performing.

The most experienced and professional traders often choose to use the best crypto API on the market. Our API enables millions of calls to track current prices and to also investigate historic prices and is used by some of the largest crypto exchanges and financial institutions in the world. CoinMarketCap also provides data about the most successful traders for you to monitor.

To reorder the list, just click on one of the column headers, for example, 7d, and the list will be reordered to show the highest or lowest coins first. At the time of writing, we estimate that there are more than 2 million pairs being traded, made up of coins, tokens and projects in the global coin market. As mentioned above, we have a due diligence process that we apply to new coins before they are listed. This process controls how many of the cryptocurrencies from the global market are represented on our site. The University of Michigan’s Consumer Sentiment Index, released Friday, will reflect US consumers’ economic confidence. A higher-than-expected CPI could signal persistent inflation, potentially leading the Fed to maintain or raise rates.

They can be used as art, a way to share QR codes, ticketing and many more things. The first breakout use was for art, with projects like CryptoPunks and Bored Ape Yacht Club gaining large followings. https://token-estra.com/ We also list all of the top NFT collections available, including the related NFT coins and tokens.. We collect latest sale and transaction data, plus upcoming NFT collection launches onchain.