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Key U.S. Events This Week To Watch Out: Will BTC Break the $100K Mark?
This week is packed with major economic events that could significantly impact Bitcoin’s price and overall market sentiment. With crucial data releases and several Federal Reserve speeches lined up, traders and investors should remain vigilant for possible market swings.
First off, on February 25th, the CB Consumer Confidence report will be released, showcasing how people feel about the economy. If confidence increases, investors may shift towards riskier assets like Bitcoin. However, if it drops, it might trigger caution and lead to a pullback. It’s worth noting that January’s report stood at 109.5, whereas February is anticipated to fall to 105.7.
Next, midweek, two crucial updates will attract attention. The January New Home Sales report will provide insights into the health of the housing market, which plays a vital role in overall economic stability. Additionally, all eyes will be on Nvidia’s earnings report, as its robust presence in AI and tech stocks could lead to a broader market uplift, subsequently benefiting Bitcoin and other cryptocurrencies.
Thursday will see the release of highly anticipated US Q4 2024 GDP data. A strong reading could boost confidence in the economy, pushing investors towards riskier assets like Bitcoin. Conversely, if the GDP figure comes in lower than expected, it may raise concerns about an economic slowdown, leading to increased volatility in the crypto market.
Finally, on February 28th, the Personal Consumption Expenditures (PCE) inflation report will be released. If inflation remains stubbornly high, it could influence future interest rate decisions and impact investor sentiment towards Bitcoin and other risk assets.
Source: https://coinpedia.org/news/key-u-s-events-this-week-to-watch-out-will-btc-break-the-100k-mark/
