Bitcoin rose from $78K to $79K over the weekend and is now stable at $79K as of Monday, Asia time. Meanwhile, Ethereum continues to hover around $2,300.
The Fed remains in a “higher‑for‑longer” stance, maintaining rates as they continue to deal with persistent inflation and a leadership transition. Additionally, inflation, the risk of prolonged war between Iran and the US, and elevated oil prices continue to affect prices, keeping the hard‑asset thesis alive for risk assets.
CoinMarketCap’s Crypto Fear and Greed Index stands at 45.
What Traders Should Watch Out for This Week
Key macro decisions and protocol updates will be the main drivers of volatility for BTC and other risk assets.
For US data and news, US inflation, and Fed policy cues like employment data, directly influence whether the “higher‑for‑longer but eventual‑cut” narrative can trigger price changes.
Traders are also awaiting further developments in negotiations between the US and Iran, as well as the possibility of the Strait of Hormuz being reopened.
Here are the major economic indicators to watch out for this week:
- May 4: Factory orders
- May 5: U.S. trade balance, job openings, new home sales, S&P final U.S. services PMI
- May 6: ADP employment
- May 7: Initial jobless claims, U.S. productivity, consumer credit
- May 8: U.S. employment report, U.S. unemployment rate, hourly wages year over year
