In the upcoming week, several important economic indicators will be released in the United States that could significantly affect the price of Bitcoin and the cryptocurrency market. Recent macroeconomic data from the US have played a crucial role in guiding the sentiments of cryptocurrency investors, making their analysis highly important for traders. The first important indicator is the forward-looking economic indicator for March, which will be released on Tuesday, April 21. This indicator is expected to decrease by 0.5% in March due to consumer concerns and a decrease in production orders. A further decrease in this indicator could drive investors towards safer assets like treasury bonds. Later in the week, on Thursday, April 23, the Purchasing Managers’ Index (PMI) for the services sector will be published. The growth in this index signals strong consumer demand, potentially increasing the value of the US dollar and reducing the likelihood of interest rate cuts by the Federal Reserve, which could put downward pressure on Bitcoin. However, concerns about tariffs might mitigate this pressure to some extent. On the same day, the PMI for the manufacturing sector will also be released, showing a decrease to 50.2 in March, and the ISM index reached 49. Decreases in orders, production, and employment have raised concerns about a possible economic recession that could have a negative impact on the cryptocurrency market. Weakness in the manufacturing sector along with stable inflation and tariff policies could reduce the likelihood of interest rate cuts in the near future. Additionally, on Friday, April 24, the initial jobless claims data will be released, showing a relative stability in the US labor market, which could benefit Bitcoin from increased liquidity and market confidence. Finally, on Saturday, April 25, the consumer confidence index will be published, which dropped to 50.8 in March, considered one of its lowest historical levels. A decrease in this index could intensify concerns about an economic recession and lead to a decline in retail investor demand for Bitcoin.
