Are You Ready for the New Week? Pay Attention to These 2 Data for Crypto Coins!

Crypto currencies will enter a potentially volatile week as investors anxiously await key economic data releases and comments from leading Fed officials. While the fall trend prevails in the market, future data points such as the US Consumer Price Index (CPI) and the Producer Price Index (PPI) are poised to significantly impact the market dynamics.

Economic data for Crypto currencies in focus

Investor uncertainty continues to cloud the crypto market, and recent data highlights the decline in consumer confidence. Rising inflation expectations are a major concern, increasing the importance of future CPI and PPI deficits. The University of Michigan's consumer sentiment index fell to a six-month low in May, while inflation forecasts rose to a six-month high of 3.5%. In addition, Fed officials emphasized the need for policy flexibility against inflationary risks.

FED speeches attract attention

Beyond economic data releases, Fed officials' comments are another major factor impacting the crypto market this week. A series of speeches from the Fed's leading figures are planned, offering valuable clues on the direction of monetary policy and inflation management. Market participants will listen closely to Fed officials such as Vice Chairman Philip Jefferson, Cleveland Fed President Loretta Mester, Chair Lisa Cook, and Chair Jerome Powell for insights into the central bank's stance on policy rates and inflation.

Regional Fed presidents and the Fed Vice Chair for Supervision are expected to deliver additional speeches throughout the week. Crypto enthusiasts are particularly interested in clues about the Fed's rate hike plans. While these plans are under intense scrutiny, the nuanced perspectives of Fed officials could significantly impact market sentiment.

What are the expectations?

Crypto the money market continues to be under the significant influence of macroeconomic factors. Recent outflows from U.S. Spot Bitcoin ETF heightened investors' concerns, but despite this pressure, overall market momentum remained positive last week. The upcoming economic data, especially the CPI and PPI figures, coupled with comments from Fed officials, will likely set the stage for the near-term direction of the crypto market. While positive inflation data can spark optimism, any indication that inflation is persistently high could exacerbate ongoing volatility.

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