The crypto market remained almost unchanged over the weekend; Because investors are now assessing the situation after last week’s heavy $700 billion plunge. After falling to the $60,000 range, Bitcoin managed to recover to $71,000, but it is still 44% below its historical high.
Meanwhile, in the US economic calendar, there is a busy week ahead and the release of important data could create new volatility in the crypto market. On Monday, the December retail sales report will be released.
On Wednesday, the January employment report will be released, and on Thursday, weekly data on jobless claims and existing home sales for January will be released. Also on Friday, the Consumer Inflation Index (CPI) report for January is released, which is critical to the Federal Reserve’s decisions and the path of interest rates.
Analysts say any weakness in the labor market or an unexpected drop in inflation could increase interest rate cut momentum and create new buying pressure in the stock and crypto markets.
On the other hand, the price of gold and silver is recovering; In the last 24 hours, the price of an ounce of gold has reached over $5,000 and silver has reached $80, which can attract some of the liquidity from the crypto market. For this reason, investors should exercise caution and be prepared for short-term fluctuations.
Crypto Potato
Latest Passing over countries : Spain | Dominica | United Arab Emirates
RCO NEWS
