- Employment data shows the strength or weakness of the economy.
- Financial markets react accordingly, and bitcoin (BTC) is no exception.
The first full week of 2025 begins waiting for various events that could impact the markets, including bitcoin (BTC) and cryptocurrencies.
During the first four days of the week, from Monday, January 6 to Thursday, January 9, there will be multiple speeches from members of the Federal Reserve (Fed), Central Bank of the United States. Although Jerome Powell, the president of the organization, will not speak, it is key to consider that his messages could have an effect on the markets if he says something forceful.
On Tuesday, January 7, the consumer price index (CPI) of the European Union will also be published. This is expected to rise from 2.2% annually, recorded last month, to 2.7%. Normally, the bitcoin and cryptocurrency market does not usually show great agitation due to this data, although it is pertinent to take into account that it can generate risk aversion.
In addition to this, unemployment data from the European Union and employment in the United States will be released on the same day. Likewise, reports on the American powerhouse’s labor market will continue to be published on subsequent days of the week.
Eyes on US jobs data
US labor market data in focus ahead of Fed meeting on January 29 to define interest rates. In the past, the weakening of this sector has generated concerns about the economy and declines in the markets, while its strengthening has led to the opposite.
Therefore, the US labor results that come out this week will be relevant for the markets, since they reflect the health of the economy.
It should also be taken into account that on Wednesday the 8th, the minutes of the FOMC meeting, the Fed body in charge of monetary policy, will be presented. These provide more detailed information on the committee’s range of views on the stance of monetary policy. Therefore, they can also have an impact on the markets.
Meanwhile, bitcoin started Monday approaching $100,000 (USD), continuing with the rise it saw last week. This can be seen in the graph below.
Thus, the market is showing strength, which shows optimism in principle due to the economic calendar of the week. This happens, as CriptoNoticias reported, in a month that will be the presidential inauguration of Donald Trump in the United States, who has identified himself as pro-cryptocurrencies.
Currently, the bitcoin options market indicate that traders predict new record prices for bitcoin after Trump’s inauguration. At the moment, its all-time high has been USD 108,000, marked three weeks ago, in mid-December.
