Top 5 Cryptocurrency Events To Watch This Week: Bullish Run Ahead?

As the week opens, the cryptocurrency market shows signs of renewed optimism. The total market cap rose 0.73% in the last 24 hours, slightly ahead of the weekly trend (+0.84%), yet still trailing a modest 30-day decline of 0.84%. 

Bitcoin price continues to trade above the $90,000 mark, reinforcing bullish momentum. Ethereum price remains stable above $3,100, while Binance Coin (BNB) stays above $900 and eyes a potential recovery. 

As the market signals become unclear on the most important assets, with increasing investor interest. These are the Top 5 Cryptocurrency events to watch this week that may indicate the next market step.

Cryptocurrency Events To Watch This Week: CPI, PPI, and Fed Moves in Focus

The past week is associated with a series of macroeconomic events that have a high impact, potentially influencing crypto markets. Traders are anticipating the major changes in sentiment, based on inflation data and Federal Reserve remarks. 

These are the best cryptocurrency events to follow this week that could define the price movements and investor placement in the short term.

Monday – FOMC President Speech Signals Monetary Policy Direction

The week begins with an arranged speech by an official of the Federal Open Market Committee (FOMC). The statements may give an indication of whether the interest rates will remain high or will drop in the next few months. 

Hawkish or dovish tones are sensitive to crypto markets, with the rate cuts left only speculative. Any implication of longer tightening would put pressure on digital assets.

Tuesday – CPI Report to Clarify Inflation Path

The Bureau of Labor Statistics of the U.S will release data on the Consumer Price Index (CPI) for December on January 13. The last report indicated that the headline inflation is down to 2.7, and the Core CPI is down to 2.6, which was below expectations.

Analysts estimate that the inflation rate can drop further to 1.9. In case the data proves the disinflation, it may boost the sentiment of the crypto as it will uplift the expectations of monetary relaxation. Nevertheless, the sudden rise may postpone Fed reductions and put pressure on the market.

Wednesday – PPI Data to Measure Producer Costs

The Labor Department will release October and November’s Producer Price Index (PPI) on January 14. PPI serves as an early inflation signal, tracking costs at the wholesale level. Combined with CPI, it offers a broader view of pricing pressures.

 A continued decline in PPI may strengthen expectations that inflation is cooling. That could support risk assets, including crypto.

Thursday – Jobless Claims Reflect Labor Market Resilience

The first time jobless claims increased by 8,000 to 208,000 for the week ending January 3. Nevertheless, the data indicate that layoffs are minimal, notwithstanding the increase.

A stable workforce favors demand and risk-taking in consumers. But as long as the claims increase in an unanticipated manner, it may be an indication of a weak economy in the future. 

Friday – Fed Balance Sheet Data Highlights Liquidity Trends

The Federal Reserve will update its balance sheet on Friday. This report follows the amount of assets in existence with the central bank, and it shows the extent to which liquidity has been injected or withdrawn. 

A balance sheet smaller in size indicates a tightening of the screws, whereas a larger balance sheet may lead to a crypto upswing.

Inflation of liquidity, these cryptocurrency events to watch this week may determine the volatility in the short term and also define the future of investors at the end of January.