Turbulent Crypto Market? 3 Things to Watch This Week!


 "Investors should also visit this important announcement if they don't want to miss it."

Lately the cryptocurrency market has always seen a flat movement, but that is likely to change this week following various major announcements coming from the world's largest economy, the United States (US).

Powell's presentation

After the end of the COVID-19 pandemic, the US central bank began aggressively raising interest rates, including 75 basis points to combat soaring inflation.

Even so, the Fed cutting interest rate hikes at the end of 2022 has left most crypto investors thinking they won't raise rates at 6%.

That streak, the crypto market is currently making a flat move pending the presentation of the monetary policy report by Chairman Jerome Powell for the next indication.

Unemployment benefit claim data

On Thursday, the US is scheduled to announce the latest data on jobless claims, where it is a weekly report by the US Labor Department showing the number of people filing for unemployment insurance benefits.

As an important indicator of the current state of the economy, unemployment claims usually bring small fluctuations in crypto markets as well as stocks, especially if they are higher than expected.

NFP employment report

Friday will shed more light on the US economy when the unemployment rate shows the percentage may remain the same as the previous month at 3.4%, the lowest since 1969.

Total job gains have seen the US add over 500,000 in January while 200,000 jobs are expected to be recorded in February.