Bitcoin dropped below the $93K mark over the weekend, triggering $600M in long liquidations as U.S. President Trump threatened tariffs on European countries who do not support his bid to take over Greenland.
CoinMarketCap’s Crypto Fear and Greed Index dropped from 50 to 45.
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What Traders Should Watch Out for this Week
A stronger U.S. dollar (DXY near 99.4) and elevated volatility (VIX at 15.86) both point to cautious risk sentiment as the world waits to see how Trump’s Greenland threats will affect markets this week.
In other news, markets are expecting seasonal liquidity tightening ahead of the Fed’s Q1 guidance. Given strong GDP and employment growth in the U.S., some feel that the economy may be overheating.
Here are the major economic indicators to watch out for this week:
- Jan 21: Delayed construction spending report
- Jan 22: Initial jobless claims, GDP, delayed personal income report, delayed personal spending report, and delayed PCE index report
- Jan 23: Consumer sentiment (final) and S&P flash U.S. services PMI & manufacturing PMI
Watch closely for upcoming developments, as markets may see notable shifts this week.
