4 US Economic Signals That Could Move Bitcoin in the President’s Day Holiday Week
Bitcoin's price near $68,600 is sensitive to four key US economic reports released during the holiday-shortened week.Summary
Bitcoin is trading near $68,600 entering a pivotal macro week, with markets highly sensitive to US economic data, especially given thinner liquidity due to the Presidents' Day holiday.
Traders are focused on four key releases: the January FOMC minutes, initial jobless claims, the Q4 GDP revision, and December PCE inflation. The FOMC minutes will set the tone, with hawkish signals reinforcing 'higher for longer' rate expectations potentially causing Bitcoin pullbacks, while dovish language could push it toward $70,000.
Jobless claims offer a labor market snapshot; strong claims could pressure BTC down, while weak claims might boost risk assets on hopes of earlier Fed easing. The Q4 GDP revision and the PCE inflation report are also critical; cooler-than-expected PCE inflation is seen as the most important catalyst, potentially sparking a rally above $70,000, whereas hotter data could trigger downside pressure toward $60,000–$65,000.
(Source：BeInCrypto)