4 US Economic Events That Could Move Bitcoin In the Final Week of February
Four key US economic events this week, including Fed speeches and inflation data, will dictate Bitcoin's short-term direction amid uncertain rate cut timelines.Summary
Bitcoin's short-term trajectory in the final week of February hinges on several US economic events, as markets digest mixed signals regarding the pace of Federal Reserve rate cuts. Traders are closely watching four main catalysts. First, a series of speeches by Federal Reserve officials (including Waller, Goolsbee, Bostic, and Cook) could shift rate expectations; hawkish tones might pressure Bitcoin by raising yields, while dovish comments could support risk assets. Second, the Conference Board's Consumer Confidence Index will signal economic resilience; a strong reading could reinforce a 'no-landing' scenario, weighing on BTC, whereas a weak print might boost rate-cut odds. Third, Initial Jobless Claims will offer a timely look at the labor market; strong claims could embolden hawks and pressure Bitcoin, while a spike might fuel recession fears supportive of easier monetary policy. Finally, the Producer Price Index (PPI) will provide upstream inflation data; a hotter reading could diminish rate cut bets and pressure BTC, while a cooler reading might encourage easing expectations, potentially pushing Bitcoin toward $70,000. Given Bitcoin's high correlation with the Nasdaq and the US dollar, macro factors remain the dominant driver for price action this week.
(Source：BeInCrypto)