Cryptocurrency

Wednesday

Bitcoin

Apple

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-market-outlook-a-week-of-potential-volatility-ahead/" rel="noopener noreferrer nofollow">Cryptocurrency Market Outlook: A Week of Potential Volatility Ahead</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrencies</strong> are ending a week of decline and the Fed week is beginning. <a href="https://en.coin-turk.com/the-impending-june-1st-events-potential-catalysts-for-a-crypto-rally-and-altcoin-explosion/" rel="noopener noreferrer nofollow">Bitcoin</a> is on the rise again. Although recovery seems to gain momentum after the weekly close, caution may be wise due to historically high volatility during Fed weeks.</p>
<h2 style="text-align: justify" id="key-developments-of-the-week">Key Developments of the Week</h2>
<p style="text-align: justify">Expectations for the Fed to start cutting rates in March have dropped from around 80% to 50%. Recent US data suggests that the fight against inflation may not yield results as quickly as expected. Although <strong>PCE</strong> data is positive, headline and core inflation along with employment figures are concerning.</p>
<p style="text-align: justify">So, what developments will cause fluctuations in cryptocurrencies throughout the week?</p>
<h3 style="text-align: justify" id="monday-january-30">Monday, January 30</h3>
<ul style="text-align: justify">
 <li>18:00 US JOLTS Job Openings (Expectation: 8.73M Previous: 8.79M)</li>
 <li>OP Unlocking Event ($75.14 Million)</li>
</ul>
<h3 style="text-align: justify" id="tuesday-january-31">Tuesday, January 31</h3>
<ul style="text-align: justify">
 <li>16:15 US ADP Employment Data (Expectation: 143K Previous: 164K)</li>
 <li>22:00 US Fed Interest Rate Decision (Expectation: Steady)</li>
 <li>22:30 US Fed Chairman Powell to Speak</li>
 <li>ETC Network Update</li>
 <li>SUI Unlocking Event ($5.68 Million)</li>
</ul>
<h3 style="text-align: justify" id="wednesday-february-1">Wednesday, February 1</h3>
<ul style="text-align: justify">
 <li>16:30 US Unemployment Claims (Previous: 214K)</li>
 <li>17:45 US Manufacturing PMI (Expectation: 50.3 Previous: 50.3)</li>
 <li>DYDX Unlocking Event ($93.3 Million)</li>
</ul>
<h3 style="text-align: justify" id="thursday-february-2">Thursday, February 2</h3>
<ul style="text-align: justify">
 <li>16:30 US Average Hourly Earnings (Expectation: 0.3% Previous: 0.4%)</li>
 <li>16:30 US Non-Farm Employment (Expectation: 162K Previous: 216K)</li>
 <li>16:30 US Unemployment Rate (Expectation/Previous: 3.7%)</li>
</ul>
<p style="text-align: justify">Note: Earnings reports from companies like Microsoft, Meta, Google, and Apple on Wednesday and Friday could cause stock market fluctuations.</p>
<h2 style="text-align: justify" id="will-cryptocurrencies-fall">Will Cryptocurrencies Fall?</h2>
<p style="text-align: justify">Wednesday’s Fed meeting is the week’s most critical event, and <strong>Powell</strong>‘s statements will be crucial. If Powell emphasizes a hawkish stance, it could significantly increase pressure on cryptocurrencies. On the other hand, we will see the latest data on employment and wage increases.</p>
<p style="text-align: justify"><img loading="lazy" src="https://coin-turk.com/wp-content/uploads/2024/01/Fed-Faiz-Gorunumu-1.png" alt="" width="605" height="283"></p>
<p style="text-align: justify">Weakening employment and wage growth are important for the fight against inflation. Powell will likely highlight this issue again, and if the data is contrary, we could see a negative trend in cryptocurrencies. The extent of META’s <strong>metaverse</strong> losses and the <a href="https://newslinker.co/category/finance/" rel="noopener noreferrer nofollow">financial</a> status of companies like Apple are of key importance. If the trillion-dollar giants’ earnings reports are positive, we might see a crypto rise fueled by optimism in the stock markets. The <strong>DYDX</strong> unlocking event is significant, but will prices unexpectedly rise while everyone expects a fall? If the unlocking event is not postponed, this seems unlikely.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cryptocurrency-market-outlook-a-week-of-potential-volatility-ahead/" rel="noopener noreferrer nofollow">Cryptocurrency Market Outlook: A Week of Potential Volatility Ahead</a></h5>

Cryptocurrency Market Outlook: A Week of Potential Volatility Ahead

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