Bitcoin price is broken: 6 main events to pay attention to in Crypto this week

Bitcoin’s continuous price is a testimony on Increased volatility and uncertainty In the encryption market. While Bitcoin faces more downward pressure, market arches for a wave of Main economic reports This week it can affect prices.

Bitcoin price on the edge of the abyss, where the market is waiting for the main economic reports

After weeks of strong performance, The last Bitcoin price collapse Fears about more of the negative aspect and the potential start of Bear market. Starting today, the next few days will be decisive in determining Whether BTC can recover From the current or decreasing conditions.

Looking at the state of the market, the Kobeissi message, a pioneering comment on the industry on the global capital markets, has moved to X (previously Twitter) to a plan Six key Economic events It can affect the wider financial market and encryption.

The first event in the list is the opening of jobs and the Jolts, which is scheduled to be released on Tuesday 11 February. This economic data measures a number of Job opportunities in the United States (United States). The strong labor market usually indicates that the economy is still stable, which may delay greater price cuts than the Federal Reserve and cause the struggle by Bitcoin and other digital assets.

The second economic data group that will be released on the same day is the short -term energy management expectations (EIA). This provides an insight into the demand for fuel and supply. Although this economic event may not be a direct driver for encryption, energy costs affect inflation, which affects Federal Reserve Policies. These policies can hurt or enhance bitcoin price.

The third event scheduled for Wednesday this week is February Consumer Press Index Data (CPI). This economic data measures inflation at the level of consumer and plays an important role in determining the future Federal Reserve Discounts. If the consumer price index is higher than expected, it may negatively affect Bitcoin, because it would refer to consistent inflation that may delay cash dilution.

The next Economic Data Group on Thursday is the report of the unemployed requests for the weekly work. If unemployment calls continue to rise, they may indicate the economy, which may increase the expectations of a Reduce prices and bouncing bitcoin.

Another critical event to launch on the same day is February Product Prices Index (PPI). This data measures inflation at the sentence level. The product price index report can negatively affect bitcoin and may lead to more accidents by reducing the possibility of federal reserve rate discounts in the short term.

The final economic report for this week

With the market monitoring closely to obtain the latest reports on critical economic events, Bitcoin faces more fluctuations. Its price again decreased by 2.28 % in only 24 hours. Over the course of last month, the leading cryptocurrency decreased by 17.22 %, which prompted its price to 80380 dollars, according to Coinmarketcap.

If the upcoming economic reports do not prefer the market, Bitcoin risks see more price accidentsAnd it may also increase the descending feelings. The last financial report scheduled for Friday, February 14, is the consumer morale in Michigan. This provides an insight into the level of confidence consumer in the economy.

The decrease in feelings can indicate Economic uncertaintyWhich may have a decreased impact on the price of bitcoin, especially if investors turn safely. At the same time, low -bitcoin can also support the bitcoin if they feed the expectations of the Federal Reserve Reducing.

Distinctive image from Unsplash, Chart from TradingView.com