These Major Events in the US Should Impact the Cryptocurrency Market

Cryptocurrency и Bitcoin in particular, entered one of the most critical weeks of the year. On Monday, the price of BTC rose above $122,000, approaching its all-time high, helped by a series of important economic and political events.

This week’s calendar is packed with important US economic reports, the situation in which traditionally has a significant impact on the overall crypto market. On Tuesday, data on the consumer price index (CPI) will be published, and on Thursday, data on jobless claims and the producer price index (PPI).

Traders view the information as critical to Fed policy, as current market quotes already give a nearly 90% chance of a rate cut in September. Lower-than-expected CPI readings could further increase that probability.

Lower rates often boost risk assets such as cryptocurrencies and tech stocks as borrowing costs fall and liquidity increases.

On the corporate front, major Bitcoin purchases by treasuries are grabbing attention. Bitcoin major Nakamoto will be buying hundreds of millions of dollars worth of BTC this week.

Institutional interest is also growing thanks to an influx of funds into exchange-traded funds (ETF). The SEC’s recently launched Project Crypto aims to develop clearer regulations that could attract more traditional investors to participate. This trend strengthens Bitcoin’s position as a strategic reserve asset and a hedge against inflationary pressures.

It is likely that the crypto sector will be affected by the political backdrop. The fact is that President Donald Trump is scheduled to meet with Russian President Vladimir Putin in Alaska. Or Russia, judging by Trump’s latest statement:

I’m going to Russia on Friday. I’m going to meet Putin.

Both leaders are preparing for important geopolitical events that could cause unexpected movements in the market.

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