Bitcoin price can react strongly to these data this week

It’s going to be another week with a lot of events in cryptoland! For example, important ethereum news is imminent, and there are also a number of important things planned on a macro level. In this overview you can read what you should pay attention to this week.

Wednesday: US inflation data, important for bitcoin

First, we find on the economic calendar the publication of US Consumer Price Index (CPI) data. This will be published on Wednesday at 14:30 Dutch time. Many eyes within crypto are on these numbers as they reflect the current state of the markets.

Inflation has risen sharply recently and that usually has a negative effect on bitcoin (BTC). But it seems that inflation is slowly cooling down. Should it become clear on Wednesday that annual inflation will be 5.2% or lower, this could have a positive effect on BTC.

If it turns out that inflation has picked up again in the past month, this could cause new concerns among investors. Compared to last month, inflation is expected to be 0.4%, which is 0.1% lower than the previous month.

Wednesday: Major Ethereum update is in progress

Also the same day, but late in the evening, a major update is planned. Ethereum will be implementing Shapelle, an update that will eventually make it possible for strikers to withdraw their ETH. Will this have an impact on the ethereum price in the form of a sell the news event? We’ll keep an eye on it!

Thursday and Friday: even more important dates

On the last two working days of the week, a number of important things will be announced with regard to the economy. For example, the German inflation figures will be published on Thursday at 08:00. Later in the day, at 2:30 PM, the US Producer Price Index (PPI) will be released, which is another indicator of how inflation is doing.

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Finally, at 2:30 PM on Friday, US retail sales for March will be released. This is also an important indicator for the state of the economy and therefore important to keep in mind as a bitcoin and crypto investor.

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