As the initial thrill of Bitcoin ETF approvals fades, investors closely monitor upcoming economic events for potential impacts on the cryptocurrency market.Amid a dwindling fervor for Bitcoin ETFs, the upcoming week in the United States holds significance with key events and quarterly earnings reports. Notable highlights include sales data and consumer sentiment reports, contributing to the overall economic landscape.The Kobeissi Letter, a macroeconomics outlet, has outlined crucial economic events scheduled for the week starting January 15. This period follows a highly volatile week in the crypto markets, marked by the landmark approval of spot Bitcoin ETFs.Key Economic Events This WeekMonday – Martin Luther King Day:While it's a holiday in the US, investors remain attentive to economic reports, anticipating potential signals for an interest-rate cut as early as March.January 17 – Retail Sales Report:The release of the December retail sales report provides insights into consumer spending on various durable and non-durable goods. This data serves as a barometer for the economy's health, consumer spending patterns, and inflation pressures on purchases.Wednesday – Industrial Production Report:Released by the Federal Reserve, this report on Wednesday reveals the volume of production in US industries such as manufacturing, mining, and utilities. It stands as a leading indicator of GDP growth and overall economic performance.Scheduled for January 19, this month's preliminary consumer sentiment index report holds significance as it influences consumer spending confidence, a key metric used by the Fed to calculate the Index of Inflation Expectations.In addition to economic indicators, this week sees the release of quarterly earnings reports from major banks. On Tuesday, Goldman Sachs, Morgan Stanley, and PNC Financial are set to report, followed by Charles Schwab on the following day.However, a notable shift in sentiment comes from TV host Jim Cramer, who, after recently expressing bullish sentiments on Bitcoin, has reversed his stance, speculating on potential market rollovers similar to the recent fluctuations in tech and Bitcoin.Crypto Market OverviewCrypto markets have been gradually retreating over the weekend, reaching a total capitalization of $1.75 trillion by Monday morning trading in Asia. The decline, marking a 6% drop since the yearly high on January 10, aligns with the anticipated crypto correction.Bitcoin experienced a dip to a 2024 low of $41,750 in early trading, subsequently recovering to $42,216 at the time of writing. Notably, BTC has shed 13% since its recent ETF-induced peak.Altcoins present a mixed scenario, with losses observed for ETH, ADA, and TRX, while LINK and TON showcase gains amidst the market fluctuations.#BTC #USACryptoTrends

#SHIB 💥 SHIB Lead Shytoshi Kusama Changes Location on Twitter, SHIB Army Puzzled #cryptonews $SHIB 0.01 instantly once a time. I have to say buy $1000 shiba inu and hold it That's all 🚀🤝A Shiba Inu-focused Twitter/X account whose owner belongs to the Japanese SHIB army, @kuro_9696_9696, has shared a screenshot of the X account of the Shiba Inu lead developer Shytoshi Kusama, pointing out a change in Kusama's location mark.Shytoshi Kusama in Singapore? According to it, the pseudonymous leader of the SHIB developer team is currently in Singapore. The SHIB community responded with mixed comments to that tweet. Some tweeted that the leader of SHIB developers is having some time to himself. Several SHIB fans criticized Kusama and the SHIB development team for lack of activity, which, allegedly, leaves the Shiba Inu community on its own.Similar thoughts were voiced by the SHIB community in May last year, when Kusama changed his location tag for "Japan." Shytoshi Kusama changes his location mark on Twitter occasionally, and every time it causes waves of puzzled and/or supportive comments from the community.New SHIB burn era about to arrive Earlier this week, Shiba Inu's marketing lead expert Lucie tweeted that the SHIB team is launching a newera in SHIB burns, referring the community to a Shiba Magazine issue released prior to her tweet. Currently, SHIB developers have started transitioning the layer-2 blockchain Shibarium's Puppynet from one Ethereum-based network to another - from Goerli to Sepolia. This will ensure faster transactions, improved functionalities of smart contracts and overall a better user experience.Aside from that, the developers are currently busy launching an automated system of burning Shiba Inu meme coins in exchange for the manual system used previously.In November, December and January so far, the SHIB development team has burned more than 40 billion SHIB in five massivetransactions, where each one carried more than four trillion SHIB to unspendable blockchain addresses.#trendingtoday #USACryptoTrends #etf