While the Bitcoin price rises above 70 thousand dollars again, developments this week may also affect the prices closely. Especially after the non-agricultural employment data (USA) announced on Friday, the inflation figures to be announced on Wednesday are also eagerly awaited.

The Consumer Price Index in the USA increased by 3.2 percent on an annual basis in February, exceeding market expectations (3.1%). This time, the expectation is seen as 3.4%. One of the biggest reasons for the increase in inflation expectations is seen as the oil price exceeding 90 dollars per barrel. Core inflation figures will also be of great importance in the data to be announced.

He said, “Fed may not cut interest rates”

If inflation does not fall as much as the Fed wants or exceeds expectations, this could also undermine interest rate cuts. Last week, Fed member Neel Kashkari said, “If the numbers are not as we expect, it may be possible that there will be no interest rate reduction in 2024.” This is why inflation figures are so important…

As you may remember, last week’s non-agricultural employment data was 303 thousand monthly. The expectation was 214 thousand. This was an indication of the economy’s reluctance to cool down.

What message will the minutes give?

Following the inflation data to be announced on Wednesday, the Fed’s March meeting minutes will be published in the evening on the same day (21:00 Turkish lira). The speeches and messages of Chairman Powell and other Fed members will also provide insight into the future.

BlackRock quarter earnings report also coming

On the other hand, the earnings reports of BlackRock, which has received billions of dollars of investment with the interest it has seen in Bitcoin ETFs, will be announced on Friday. Beyond the numbers, CEO Larry Fink, who has recently made positive statements about tokenization, may also make remarks about cryptocurrencies and Bitcoin. Fink’s possible positive or negative remarks may also affect prices.

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Source: https://uzmancoin.com/bitcoin-kripto-hafta-veriler-abd/

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