Ethereum

Reserve

Bitcoin ETF

Bitcoin

Spot

<img decoding="async" width="1536" height="864" src="https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1.jpg" class="attachment-full size-full wp-post-image" alt="Crypto market US GDP PCE inflation key events" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1.jpg 1536w, https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-1-150x84.jpg 150w" sizes="(max-width: 1536px) 100vw, 1536px">
The last week has taken the crypto market by storm, with one of the most anticipated U.S. Spot Ethereum ETFs receiving a regulatory nod from the <a href="https://coingape.com/us-sec-approves-8-spot-ethereum-etf/" target="_blank" rel="noopener">SEC</a>. Notably, Bitcoin&nbsp;along&nbsp;with&nbsp;most of the&nbsp;altcoins&nbsp;rallied last week amid the growing optimism. However, some volatility has been witnessed, mainly due to the investors&nbsp;taking a pause&nbsp;and seeking further clarity before making further bets. 
But the momentum seems to have&nbsp;taken a turn again&nbsp;on the weekend as the investors seem to be regaining confidence in the digital assets space. So, let’s&nbsp;take a&nbsp;look at the key&nbsp;developments,&nbsp;that could influence the crypto market performance this week. 
<h2 id="span-data-preserver-spaces-true-crypto-market-key-events-to-watch-this-week-span">Crypto Market: Key Events To Watch This Week</h2> 
The crypto market traders&nbsp;are eagerly waiting for&nbsp;several events this week, including the Fed officials’&nbsp;remarks,&nbsp;and&nbsp;key&nbsp;U.S. economic data. Here&nbsp;we&nbsp;explore the&nbsp;big&nbsp;events that could shape the future of the financial sector, let alone the crypto market. 
<h3 id="span-data-preserver-spaces-true-federal-officials-speeches-span">Federal Officials Speeches</h3> 
This week in the crypto market, all eyes are on a series of speeches by U.S. Federal Reserve officials, anticipated for insights into the central bank’s future policy rates. Scheduled speeches include Minneapolis Fed President Neel Kashkari, Fed Governor Lisa Cook, and San Francisco Fed President Mary Daly on May 28.&nbsp; 
Following that, New York Fed President John Williams and Atlanta Fed President Raphael Bostic will be speaking on May 29. Meanwhile, the market enthusiasts are keenly awaiting signals amid indications of cooling U.S. <a href="https://coingape.com/education/what-is-inflation-what-causes-it-and-its-effects-4-examples-of-inflation/" target="_blank" rel="noopener">inflation</a>.&nbsp; 
Besides, the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> market will also keep close track of the speeches for potential impacts on asset prices amid evolving economic sentiments and policy considerations. 
Also Read: <a href="https://coingape.com/ethereum-etf-to-mirror-damage-caused-by-sam-bankman-fried-cz-better-markets/" target="_blank" rel="noopener">Ethereum ETF To Mirror Damage Caused By Sam Bankman-Fried &amp; CZ- Better Markets</a> 
<h3 id="span-data-preserver-spaces-true-crypto-market-braces-for-key-economic-releases-span">Crypto Market Braces For Key Economic Releases</h3> 
Recent data, including the University of Michigan Consumer Sentiment and <a href="https://coingape.com/us-inflation-news-bitcoin-rises-as-new-data-raises-hopes-for-early-fed-rate-cuts/" target="_blank" rel="noopener">5-year inflation expectations</a> figures, have hinted at bullish trends. In addition, the recent <a href="https://coingape.com/bitcoin-remains-steady-us-cooling-cpi-inflation-data-what-next/" target="_blank" rel="noopener">U.S. CPI</a> data also showed that the inflation cooled last month, fueling investors’ confidence. 
Considering that, the investors would be&nbsp;keeping a close track&nbsp;of the upcoming U.S. economic releases.&nbsp;On May 28, the Consumer Confidence data&nbsp;is scheduled&nbsp;for release, which would provide insights into the current&nbsp;economic&nbsp;condition. 
Following that, Thursday, May 30&nbsp;marks&nbsp;a crucial date with <a href="https://coingape.com/bitcoin-breaks-lower-us-gdp-slows-1-6-hints-hot-pce-inflation/" target="_blank" rel="noopener">first quarter GDP data</a> (first revision),&nbsp;and advanced retail and wholesale inventories for April scheduled.&nbsp;The crypto market, along with&nbsp;the broader financial&nbsp;sector&nbsp;will keep a close track of these economic data for insights on the U.S. economic health. 
In addition, other&nbsp;important&nbsp;data&nbsp;including&nbsp;personal income and&nbsp;spending,&nbsp;and&nbsp;key&nbsp;inflation measures like the PCE and Core PCE&nbsp;index&nbsp;are expected&nbsp;to&nbsp;be released&nbsp;on May 31. 
<h2 id="span-data-preserver-spaces-true-bottom-line-span">Bottom Line</h2> 
The crypto market has lauded the recent approval of the <a href="https://coingape.com/spot-ethereum-etf-top-5-reasons-why-sec-offered-regulatory-nod/" target="_blank" rel="noopener">U.S. Spot Ethereum ETF</a>&nbsp;by the SEC.&nbsp;In addition, the <a href="https://coingape.com/bitcoin-etf-inflows-blackrock/" target="_blank" rel="noopener">U.S. Spot Bitcoin ETF</a> has also gained notable traction, with last week’s inflow surpassing the $1 billion mark. 
However, this week would be crucial, as the Federal Reserve officials’ speeches and the&nbsp;key&nbsp;economic data would shape the future trajectory of the broader crypto market. While the latest data signals cooling inflation, any other negative catalyst could dampen the&nbsp;sentiment of the investors. 
Also Read: <a href="https://coingape.com/bitcoin-price-hit-1-mln-strike-ceo-jack-mallers-unveils-potential-timeline/" target="_blank" rel="noopener">Bitcoin Price To Hit $1 Mln, Strike CEO Jack Mallers Unveils Potential Timeline</a> 
The post <a href="https://coingape.com/crypto-market-us-gdp-pce-inflation-other-key-events-watch-this-week/">Crypto Market: US GDP, PCE Inflation, &amp; Other Key Events To Watch This Week</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Crypto Market: US GDP, PCE Inflation, & Other Key Events To Watch This Week

Table of Contents

Coingape News Media

Other articles published on May 26, 2024

Binance Lists Top Gaining Cryptocurrencies

Crypto Market Insights: Altcoins Poised for Significant Growth

New Cryptocurrency Releases, Listings, & Presales Today – Alpha AI, Increment, 99Bitcoins

Aptos hits all-time high in user transactions

Strike CEO Jack Mallers Strongly Endorses Bitcoin Against Fiat Volatility

Why MoonBag Presale is the Top Crypto Presale in June 2024?

Join our free newsletter for daily crypto updates!