Jerome Powell Speech Among 6 Macros To Hit Bitcoin Before Good Friday
Bitcoin faces a week of key US economic data releases, including a speech by Jerome Powell, that could significantly impact its price before Good Friday.Summary
Bitcoin is currently trading near $67,400 and is poised to react to a series of six significant US economic reports, culminating in the March jobs report on Good Friday. These reports cover labor demand, consumer health, and Federal Reserve guidance, all of which heavily influence expectations for future interest rate cuts – a primary driver for crypto markets. Jerome Powell’s speech on Monday is a high-impact event, with traders scrutinizing his comments for clues about the Fed’s monetary policy. Other key releases include JOLTS job openings, consumer confidence, ADP nonfarm employment, and retail sales data. A weak jobs report could fuel recession fears and potentially push Bitcoin lower, while strong data could reinforce a 'higher for longer' interest rate narrative, pressuring crypto. The unique timing of the jobs report on Good Friday, with potential limited immediate market reaction, adds another layer of complexity.
(Source：BeInCrypto)