Bitcoin traded around $68K today, Asia time, after dipping slightly over the weekend. Ethereum also fell to $2,000.
Broader stagflation fears from escalating Iran tensions, US dollar pressure, and tariff threats continue to threaten global markets.
Metals were also affected, with gold and silver prices dropping sharply over the weekend.
CoinMarketCap’s Crypto Fear and Greed Index stands at 25, with traders remaining cautious following Trump’s renewed threats against Iran.
What Traders Should Watch Out for This Week?
Escalating US-Iran threats over the Strait of Hormuz are continuing to drive oil prices, especially in Asia, adding volatility and pressure in the global energy sector.
Global traders are concerned after this last weekend President Trump demanded that the Strait of Hormuz be opened or risk major damage to Iran’s oil infrastructure.
Such a move could lead to further escalation and a prolonged regional war, threatening oil prices and forcing countries around the world to start rationing the commodity.
US indicators like flash PMIs, initial jobless claims, and manufacturing PMI data this week could signal a cooling market or stagflation, influencing liquidity and yields.
Here are the major economic indicators to watch out for this week:
- March 23: Construction spending delayed report
- March 24: U.S. productivity, S&P flash U.S. services PMI, S&P flash U.S. manufacturing PMI
- March 25: Import price index
- March 26: Initial jobless claims
- March 27: Consumer sentiment
