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A Packed Economic Calendar Ahead: 4 Key Events to Watch
The cryptocurrency market is reeling from the impact of Donald Trump’s trade tariffs, and it appears that the volatility will only continue as a packed economic calendar unfolds over the coming week. As investors grapple with the uncertainty surrounding global economic growth and inflation data, several key events are set to shape the trajectory of the crypto markets.
Firstly, responses to Trump’s “reciprocal tariff” policies are likely to begin on Monday, as countries around the globe attempt to mitigate the effects of these tariffs on their economies. This could lead to a heightened sense of uncertainty and market volatility as investors wait for clarification on the impact of these measures.
On Wednesday, the minutes from the Federal Reserve’s March Federal Open Market Committee meeting will be released, providing valuable insights into the central bank’s next move in response to the unfolding economic situation. Any indication that the Fed is preparing to take action could have far-reaching implications for both the crypto and traditional markets.
Thursday will see a flurry of key data releases, including the Consumer Price Index (CPI) report, which will be closely monitored by investors seeking guidance on inflation trends. A steeper-than-expected decrease in February’s CPI data has sparked fears of a recession, and any disappointment in March’s numbers could exacerbate the selling pressure already being felt across the crypto markets.
Finally, initial jobless claims data will also be released on Thursday, offering insight into labor market conditions in the United States. Any unexpected rise in unemployment claims could further erode investor confidence and accelerate the ongoing selloff in the crypto space.
In light of these events, it is unsurprising that the cryptocurrency market has seen such a precipitous decline over the past 24 hours, with total capitalization falling by some $250 billion to $2.5 trillion. Bitcoin’s value has plummeted by 8% to just above $74,000, its largest single-day drop since March 11, while Ethereum has tumbled 18% to $1,450, a level not seen since October 2023. The altcoin market is equally dire, with most major tokens experiencing double-digit losses.
In the face of such uncertainty and volatility, it may be wise for investors to exercise caution and monitor developments closely before making any significant decisions about their portfolios.
Source: https://cryptopotato.com/4-things-that-could-further-impact-crypto-markets-in-the-week-ahead/
