The cryptocurrency markets in a deep red area entered Monday morning in Asia, and the main economic data issued by the United States may lead to more destabilizing these markets.
The market’s reaction was positive after Donald Trump’s inauguration last week, with the highest new level of bitcoin on January 20, but things seem to be disintegrated at the present time.
President Trump also pledged to demand the reduction in interest rates from the Federal Reserve in the wake of the potential declines in oil prices. However, the possibility of success is still uncertain.
Al -Qubaisi’s message warned that “in the meantime, only six days are separated from the date of the start of the customs tariff on the first of February, which was set by Trump last week.”
Economic events from 27 to 31 January
Consumer confidence data will be issued on Tuesday, and the first meeting of the Federal Reserve for 2025 will be held on Wednesday. This may provide some insight into future monetary policies under the new administration.
On Thursday, we will see the annual pre -appreciation of GDP growth for the fourth quarter. This report provides an early view of the changes in GDP, and economists expect that the growth pace has slowed to 2.7 % of 3.1 % in the third quarter.
The higher reading can affect the expected expected expectations for reducing interest rates from the Federal Reserve, while the less than expected reading can provide the central bank with data to support interest rate discounts.
The basic personal consumption expenses report for December will be issued on Friday. This data reflects the average amount of money spent by consumers monthly and is used by policy makers at the Federal Reserve as a basic measure of inflation.
The main events this week:
1. December new home sales data
2. Consumer confidence data from CB – Tuesday
3. The first meeting of the Federal Reserve for 2025 – Wednesday
4. GDP data for the fourth quarter of 2024 – Thursday
5. December inflation data
6. About 20% of the companies listed on the S&P 500 index announce their profits
You…
– Al -Qubaisi Message (@kobeissileter) January 26, 2025
It is also a large profit week for technology giants, as “Magnificent 7” began to report revenues. Microsoft, Meta Platforms and Tesla companies will publish their products on Wednesday after the closure, with Apple’s announcement of its revenues on Thursday.
Crypting market tanks
The market value of encrypted currencies has decreased by 5.3 % over the past six hours, while leaving $ 175 billion of the area, which led to a decrease to $ 3.56 trillion.
Over the past 24 hours, 228,000 traders have been filtered with a total destroyer of $ 615 million, according to Coinglass.
Bitcoin led the decrease, as it decreased slightly more than 5 % to less than $ 100,000 at the time of writing this report during the Asian trading session on Monday morning.
Ethereum’s performance was worse as usual as it decreased by more than 6 % over the past few hours to $ 3100. The alternative currencies were a red sea with larger losses for Solana (SOL), Dogoin (DOGE) and SUI (Sui).
Binance is free of $ 600 (exclusively for Cryptopotato): Use this link to register a new account and get an exclusive welcoming offer of $ 600 on Binance (Full Details).
Limited offer for Cryptopotato readers in Bybit: Use this link to register and open a free center of $ 500 on any currency!
Source: https://cryptopotato.com/how-will-this-weeks-us-gdp-and-inflation-data-shake-crypto- Markets/