The post Crucial Week Ahead For Crypto Market: What You Need To Know appeared first on Coinpedia Fintech News
This week is crucial for global markets as investors brace for three key events that could trigger significant market volatility across various asset classes. It kicks off with the highly anticipated debut of a spot Bitcoin ETF in Hong Kong, followed by an FOMC meeting and the release of Unemployment data. Now all eyes will …
The post Crucial Week Ahead For Crypto Market: What You Need To Know appeared first on Coinpedia Fintech News
This week is crucial for global markets as investors brace for three key events that could trigger significant market volatility across various asset classes. It kicks off with the highly anticipated debut of a spot Bitcoin ETF in Hong Kong, followed by an FOMC meeting and the release of Unemployment data. Now all eyes will be on how these events impact the crypto market.
ETFs Going Live in Hong Kong
Amidst growing anticipation, the Hong Kong Spot Bitcoin ETF has begun trading, following its approval to launch on April 30th. This marks a significant development in the region’s efforts to establish itself as a tightly regulated digital asset hub.
The approval and launch of these ETFs in Hong Kong align with the growing trend seen in the United States, where the inaugural Spot Bitcoin ETFs were introduced earlier this year.
The debut of ETFs directly investing in Bitcoin and Ether on Tuesday will provide insights into market demand and the reception of these investment vehicles.
FOMC Decision
Now all eyes remain fixed on the outcome of the upcoming Federal Open Market Committee (FOMC) meeting as investors eagerly anticipate insights into the Federal Reserve’s stance on recent macroeconomic trends in growth and inflation.
Despite market expectations leaning towards no imminent rate cuts, Wednesday’s May 1 decision will provide critical guidance. Fed Chair Jerome Powell’s subsequent press conference will add further clarity to the central bank’s outlook.
Unemployment Data
The spotlight shifts to the US labor market this week as the federal government prepares to release employment figures for April. Economists predict the addition of 250,000 jobs to the economy. Maintaining an unemployment rate below 4% would mark a significant milestone, matching one of the longest streaks below this threshold on record.
The latest data from the Labor Department’s Bureau of Labor Statistics, released on April 10, revealed that the US consumer price index (CPI) exceeded expectations, rising 0.4% month-on-month (MoM) and 3.5% year-on-year (YoY).
Volatility In The Market
The anticipation of these events has fueled expectations of heightened volatility. The tweet’s author suggests that if markets experience another downturn, it could mark a significant turning point for flagship cryptocurrencies like Bitcoin and Ethereum.
Any decisive market actions following the anticipated events could shape the near-term trajectory for these digital assets.
