Key crypto events this week

In the United States, data on inflation and the unemployment rate will be published, and some large companies, including BlackRock, will provide reports on their income – we talk about the main events of this week, January 13-19, in one article.

Token unlocks – all week

The beginning of the week pleases investors with a new portion of major unlocks, which the community always awaits with great interest. The most notable will be the unlocking of almost 2 billion Ondo tokens (ONDO).

BlackRock Earnings Report – January 15

This week, several major companies will publish important reports on their earnings. Here’s what the full list looks like:

  • Wednesday, January 15 — BlackRock, Citigroup, Goldman Sachs Group, JPMorgan Chase and Wells Fargo
  • Thursday, January 16 — Bank of America and Morgan Stanley

At the same time, BlackRock’s reporting deserves special attention. It plays a key role in analyzing institutional interest in digital assets. This is due to the attraction of institutions to invest in Bitcoin (BTC) and Ethereum (ETH) through spot crypto-ETF companies – IBIT and ETHA.

“Looking forward to BlackRock’s dividend hike announcement,” wrote one blogger on X (formerly Twitter).

Raising the dividend will show that the company believes its Bitcoin products are profitable and sustainable. This could boost confidence in the broader crypto market and attract more institutional investors.

US CPI Data – January 15

This Wednesday, at 16:30 Moscow time, in the USA will publish latest data on the current state of the consumer price index (CPI, CPI) in the country.

CPI is the main inflation indicator for the US economy. It takes into account those products that consumers use every day and compares their prices from year to year.

December core CPI is forecast to rise slightly to 2.8% from 2.7% in November. The consensus forecast covers a range of 2.6% to 2.9%. Core inflation, which excludes food and energy, is expected to rise to 3.3%.

“I think we’ll get back to $100,000 and that’s [укрепление доллара США] will not happen unless the PPI and CPI data fail us,” said one of the crypto market participants.

If the latest data turns out to be higher than expected, this will be a trigger for a possible resumption of inflation in the coming months. In theory, this could become a hindrance for the Fed – against the backdrop of rising inflation, the regulator will no longer be able to reduce the key interest rate. Also, due to the rise in the CPI, further prospects for the Bitcoin rally are at risk of faltering.

US unemployment claims – January 16

This Thursday will be published report on the number of applications left by US citizens for unemployment benefits. This data is collected and processed by the US Department of Labor on a weekly basis, and is therefore quite volatile.

Jobless claims have gradually fallen in recent weeks after peaking in October, but the number of continuing claims has been rising. This means employers retain workers, but those who lose their jobs have difficulty finding new ones.

According to forecasts, 210 thousand applications were submitted in the reporting week, compared to 201 thousand the week before. Last week, actual data was significantly lower than expected and reached a multi-month low.

“The labor market is closely tied to consumer spending, which drives much of the U.S. economy. A healthy labor market boosts confidence and economic growth, while rising unemployment can signal economic trouble ahead,” shared a user on X.

It is worth noting that actual numbers exceeding expectations are considered a negative/bear market for the US dollar. Indicators below expectations, on the contrary, indicate a positive/bullish mood for the USD.

Conclusions

This week we expect several important events at once: token unlocks, announcement of important reports, publication of data on applications for unemployment benefits. All of them are capable of influencing the sentiment of the crypto market.

For the most part, investors will once again have to take a closer look at economic developments in the States. The publication of inflation data can cause an outbreak of volatility in the digital asset market, so traders should be more careful in anticipation of this event.

Stay informed! Subscribe to World Stock Market in Telegram.

Source: Cryptocurrency

You may also like