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**3 Things That Could Impact Bitcoin and Crypto Markets in Week Ahead**
The cryptocurrency market has entered a crucial period with significant economic events set to take place over the next few days. This week, traders will be closely monitoring key macroeconomic indicators that could have far-reaching implications for the prices of cryptocurrencies such as Bitcoin.
Firstly, the ISM Manufacturing Purchasing Managers’ Index (PMI) is due on Tuesday. As a leading indicator of overall economic conditions, this report will provide valuable insight into the manufacturing sector’s health and potential impact on global inflation and interest rates. Any significant divergence from expectations could trigger a knee-jerk reaction in crypto markets.
Secondly, the job openings data released on Tuesday may further solidify or raise concerns about the US labor market’s resilience. The nonfarm payrolls and unemployment figures due on Wednesday and Thursday will also be closely watched as they directly correlate with overall economic health. If these reports surprise to the upside or downside, it could lead to a sharp correction in cryptocurrency prices.
Lastly, the ISM Services PMI report scheduled for release on Thursday could have significant implications for Bitcoin and other digital assets. As the services sector accounts for a substantial portion of many countries’ GDP, this data will provide essential context for understanding the broader economic landscape. Any unexpected developments or surprises within these reports could result in increased market volatility.
The crypto space is expected to continue its upward momentum, as seen last week, with Bitcoin reaching a two-week high at $108,500 and Ethereum (ETH) climbing back above $2,400.
Source: cryptopotato.com