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Crypto News Today: Economic Calendar and Key Events to Watch This Week
Bitcoin price today is trading around $87,472, posting a modest 3.23% gain in the past 24 hours. However, with several major US economic updates lined up this week, that price may not stay steady for long. From consumer sentiment to jobless claims, five key reports could stir up serious volatility in the crypto market.
Economic indicators and events this week:
Leading Economic Index (LEI) – April 21 (Monday)
March’s LEI report is expected to show a 0.5% drop, continuing a streak of weakness. This reflects growing caution among consumers and slower manufacturing activity. While the six-month trend is improving slightly, the numbers still hint at a softening economy. For crypto, especially Bitcoin, this signals lower risk appetite, as investors may lean toward safer bets like bonds. However, if fears grow about the broader financial system, Bitcoin’s “digital gold” narrative could get a boost.
Services PMI – April 23 (Wednesday)
March’s Services PMI climbed to 54.4, showing strong expansion in the US services sector. The Services PMI has been strong lately, signaling economic expansion. If Tuesday’s report stays above 50, it supports a strong dollar narrative and reduces the chances of Fed rate cuts. A stronger dollar often hurts Bitcoin, making this report key for short-term momentum.
Manufacturing PMI – April 23 (Wednesday)
Unlike services, US manufacturing is barely holding up. A weak print here could spook investors, making them risk-averse. That might pull Bitcoin down along with stocks, especially if fears of an economic slowdown grow.
Initial Jobless Claims – April 24 (Thursday)
Jobless claims dropped slightly last week, but the overall labor market still looks soft. A surprise spike could fuel recession fears. On the flip side, continued declines may boost investor optimism and risk appetite, possibly lifting Bitcoin.
Consumer Sentiment – April 25 (Friday)
With sentiment already near record lows, Friday’s report could either confirm a gloomy mood or show a bit of recovery. Poor sentiment usually reduces interest in riskier assets like crypto. But if fears ease, BTC could benefit from a renewed risk-on wave.
This week’s data is packed, and any surprise could ripple straight into crypto markets.
Source: https://coinpedia.org/news/crypto-news-today-economic-calendar-and-key-events-to-watch-this-week/
