FOMC

United

Chair

Bitcoin ETF

Spot

<p>The post <a href="https://coinpedia.org/news/crucial-week-ahead-for-crypto-market-what-you-need-to-know/" rel="noopener noreferrer nofollow">Crucial Week Ahead For Crypto Market: What You Need To Know</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>This week is crucial for global markets as investors brace for three key events that could trigger significant market volatility across various asset classes. It kicks off with the highly anticipated debut of a spot Bitcoin ETF in Hong Kong, followed by an FOMC meeting and the release of Unemployment data. Now all eyes will be on how these events impact the crypto market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">All eyes this week on the upcoming few days:<br><br>– Unemployment Data<br>– FOMC decision <br>– ETF's going live in Hong Kong. <br><br>I expect a lot of volatility and if the markets take another drop, it should be the final one for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a>.</p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1785023987078099085?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-etfs-going-live-in-hong-kong">ETFs Going Live in Hong Kong</h2>
<p>Amidst growing anticipation, the Hong Kong <a href="https://coinpedia.org/news/hong-kong-prepares-for-record-breaking-debut-of-crypto-etfs-as-issuers-expect-200-300-million-inflow/" rel="noopener noreferrer nofollow">Spot Bitcoin ETF has begun trading</a>, following its approval to launch on April 30th. This marks a significant development in the region’s efforts to establish itself as a tightly regulated digital asset hub.&nbsp;</p>
<p>The <a href="https://coinpedia.org/news/hong-kong-securities-and-futures-commission-approves-spot-bitcoin-and-ethereum-etfs/" rel="noopener noreferrer nofollow">approval and launch</a> of these ETFs in Hong Kong align with the growing trend seen in the United States, where the inaugural Spot Bitcoin ETFs were introduced earlier this year.&nbsp;&nbsp;</p>
<p>The debut of ETFs directly investing in Bitcoin and Ether on Tuesday will provide insights into market demand and the reception of these investment vehicles.</p>
<h2 class="wp-block-heading" id="h-fomc-decision">FOMC Decision</h2>
<p>Now all eyes remain fixed on the <a href="https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm" rel="noopener noreferrer nofollow">outcome of the upcoming</a> Federal Open Market Committee (FOMC) meeting as investors eagerly anticipate insights into the Federal Reserve’s stance on recent macroeconomic trends in growth and inflation.&nbsp;</p>
<p>Despite market expectations leaning towards no imminent rate cuts, Wednesday’s May 1 decision will provide critical guidance. Fed Chair Jerome Powell’s subsequent press conference will add further clarity to the central bank’s outlook.</p>
<h2 class="wp-block-heading" id="h-unemployment-data">Unemployment Data</h2>
<p>The spotlight shifts to the US labor market this week as the federal government prepares to release employment figures for April. Economists predict the addition of 250,000 jobs to the economy. Maintaining an unemployment rate below 4% would mark a significant milestone, matching one of the longest streaks below this threshold on record.</p>
<p>The latest data from the Labor Department’s Bureau of Labor Statistics, released on April 10, <a href="https://www.bls.gov/news.release/cpi.nr0.htm" rel="noopener noreferrer nofollow">revealed that the US consumer price index</a> (CPI) exceeded expectations, rising 0.4% month-on-month (MoM) and 3.5% year-on-year (YoY).</p>
<h2 class="wp-block-heading" id="h-volatility-in-the-market">Volatility In The Market</h2>
<p>The anticipation of these events has fueled expectations of heightened volatility. The tweet’s author suggests that if markets experience another downturn, it could mark a significant turning point for flagship <a href="https://coinpedia.org/documentries/bitcoin-price-prediction-2024-experts-forecast/" rel="noopener noreferrer nofollow">cryptocurrencies like Bitcoin</a> and Ethereum.</p>
<p>Any decisive market actions following the anticipated events could shape the near-term trajectory for these digital assets.</p>

Crucial Week Ahead For Crypto Market: What You Need To Know

Table of Contents

CoinPedia News

Other articles published on Apr 30, 2024

Worldcoin Price Poised for Potential Rally

Is Dogecoin on the Verge of a Decline?

Pendle Price Prediction: PENDLE Is The Top Loser With 20% Dump As Traders Rush To Buy This AI Mem...

Crypto Prices Today 30 April: BTC Crash After Hong Kong ETFs

Former Binance CEO Changpeng Zhao Sentenced to Four Months in Jail

SHIB Price Prediction for April 30

Join our free newsletter for daily crypto updates!