Bitcoin declined from $79k last Friday to as low as $76k Monday morning as macro risks spooked traders. Bearish sentiment is centered on U.S. inflation, the Fed leadership transition, and liquidity expectations. Meanwhile, Ethereum continues to hover around $2,100.
CoinMarketCap’s Crypto Fear and Greed Index remains stable at 39, down from last week.
What Traders Should Watch Out for This Week
The main macro focus this week is the U.S. inflation and potential Fed commentary. As new Fed chair Kevin Warsh prepares to take office, it remains unseen as to which direction he’ll take monetary policy this year.
Moreover, the lack of big wins from the Trump-Xi meeting added additional sources of concern. Traders were hoping that issues around tariffs and Iran could be resolved.
Here are the major economic indicators to watch out for this week:
- May 18: NAHB Housing Market Index
- May 19: Pending Home Sales Index
- May 21: Weekly Jobless Claims, US Flash Manufacturing PMI, and US Flash Services PMI
- May 22: Leading Indicators and U. Michigan Final Consumer Survey
