Three factors that could impact the cryptocurrency market this week.

1. US economic data

This week is full of influential economic reports, most notably; Labor market reports:

Tuesday’s job openings report.

Wednesday’s nonfarm payrolls data.

Friday’s payrolls and unemployment report, which highlights the strength of the US labor market.

Consumer sentiment indicators:

The University of Michigan Consumer Confidence Index on Friday, which reflects consumers’ expectations about the economy and inflation.

This data is crucial ahead of the Federal Reserve meeting on January 29 and could determine the direction of the market.

2. Stock Market and China Implications

With the Q4 2024 earnings season underway, the results of major companies could impact the overall market sentiment.

In addition, the repercussions of the Chinese real estate crisis continue to have spillover effects on global markets, raising concerns that it could spread to broader sectors.

3. Bitcoin and Ethereum Performance#Bitcoincontinued its rise, hitting $99,000 on Monday morning, its highest level in ten days, with a weekly gain of 7.5%.#Ethereumfollowed the same trend, reaching $3,670, its highest price since December.

This positive performance, along with the stability of #altcoins, indicates that the market momentum will continue during the week.