Important news for the 2024 major upcoming market events.
LIVE
TopCryptoNews
--
Crypto market heads into a busy week, Will it crash or jump?
The global financial markets enter into an eventfully packed week with high expectations of relief and rally. However, the digital assets market is also getting ready for a tough week ahead after dealing with the approval of the spot Bitcoin Exchange-Traded Fund (ETF). Whatâs happening this week?The Federal Reserve is expected to leave interest rates unchanged during its meeting on January 30-31. Crypto market Investors will closely analyze statements and clues regarding the timing of potential rate cuts after a period of aggressive tightening. The US Treasuryâs quarterly refunding announcements will be another must watch event for the market. This will come in when funding totals are due on January 29 and maturity breakdowns on January 31. The concerns over US government debt issuance have always influenced market dynamics. The US non-farm payrolls report for January will be released on Friday, February 2, 2024. Expectations are for the US to have created 162,000 new jobs in January. It is comparatively less than 216,000 in the previous month. This might hinder some market positions. Corporate earnings reports from major companies will come out this week. It will include big organizations like Microsoft, Alphabet, Advanced Micro Devices (Tuesday), Boeing, Qualcomm (Wednesday), Apple, Amazon, Meta Platforms (Thursday), Exxon Mobil, and Chevron (Friday). Tech giantsâ earnings will be particularly influential on the stock market. Crypto market to surge? According to experts, Investors will look for market reactions to central bank meetings, economic data releases, and corporate earnings. However, there is a consensus built for unchanged interest rates in the first Federal Reserve meeting of 2024. It is important to note that anticipation of a decision in March reveals a shift in sentiment. There is a 47% probability suggesting a potential interest rate cut by 25 basis points. Crypto and Bitcoin market participants will closely monitor interest rate decisions. It is expected that it can impact the markets. However, the March interest rate decision will become crucial as it aligns with the upcoming Bitcoin halving in April 2024. Any rate cut before the halving could influence Bitcoin prices. Bitcoin recorded a major price drop after the approval of spot Bitcoin ETF in the US. BTC price dropped by more than 20% since the trading launch of these ETFs. Bitcoin is trading at an average price of $42,080, at the press time. #crypto #etf #Write2Earn #TradeNTell
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
14
0
Replies 0
Explore the latest crypto news
âĄïž Be a part of the latests discussions in crypto