🚀🚀🚀 Key Economic Events to Watch: Impact on Bitcoin? 🚀🚀🚀
Several major economic events from June 18th to June 21st could significantly influence Bitcoin's (BTC) price. Here’s a concise look at what to watch:
June 18: Australia, EU, and US:
- Australia RBA Interest Rate Decision: A hike could weaken the USD, boosting BTC; a cut might strengthen the USD, pressuring BTC.
- EU Consumer Prices: High inflation could weaken the USD, making BTC more attractive; low inflation might have the opposite effect.
- US Retail Sales: Strong sales could boost BTC by increasing risk appetite; weak sales might drive investors to safer assets, hurting BTC.
June 19: UK Inflation Data:
- UK Consumer Price Index (CPI) & Producer Price Index (PPI): High inflation could enhance BTC’s appeal as an inflation hedge; low inflation might reduce its attractiveness.
June 20: UK, US, and Japan Data:
- UK Interest Rate Decision: A hike could strengthen the GBP and boost BTC; a cut might weaken BTC.
- US Jobless Claims & Philly Fed Index: Lower claims could boost BTC; higher claims might hurt it.
- Japan CPI: High inflation could drive investors to BTC; low inflation might have the opposite effect.
June 21: Global Indicators:
- PMIs and Retail Sales (Japan, UK, EU, Canada, US): Strong global economic data could support BTC; weak data might lead to risk aversion, impacting BTC negatively.
- US Existing Home Sales: Strong sales could signal economic stability, supporting BTC; weak sales might hurt BTC.
Monitor these events closely, as they provide crucial insights into market trends and investor sentiment. Stay informed and trade wisely! 🚀