Key US Economic Events Impacting Bitcoin This Week

As Bitcoin strives to maintain the crucial $90,000 mark amidst global volatility, traders are closely monitoring an intense US economic schedule that could significantly influence crypto sentiment. With uncertainty surrounding Federal Reserve rate cuts, important data releases and major speeches could lead to significant changes in the values of Bitcoin and altcoins.

Key Takeaways

Key US economic events this week include President Trump's speech at the World Economic Forum, Initial Jobless Claims, the Core PCE Price Index, and the Consumer Sentiment Index.
These events can potentially influence Bitcoin's price due to their impact on macroeconomic conditions and trader sentiment.
Bitcoin’s relationship with US economic indicators makes it sensitive to both strong and weak labor market data.
The performance of Bitcoin is currently under pressure, having recently seen a sharp decline.

Overview of Major US Economic Events

Here’s a look at the four significant events anticipated to affect cryptocurrency markets this week.

1. Trump's Address at the World Economic Forum

President Donald Trump’s address at the World Economic Forum in Davos, scheduled for January 21 at 1:30 PM ET, is expected to be a major market influence. Given Trump’s tendency for impromptu remarks regarding trade, tariffs, and geopolitical issues, traders are tuning in closely.

His comments could potentially touch upon ongoing tariff disputes, military actions, or policies affecting the economy, which in turn could impact the USD's strength and global risk sentiment. A hawkish tone in his speech might lead to a stronger dollar and place downward pressure on Bitcoin prices, while positive notes could spur a rally in the crypto market.

2. Initial Jobless Claims Report

On January 22 at 1:30 PM ET, the Initial Jobless Claims report will offer insights into the US labor market. This report reveals the number of citizens filing for unemployment insurance for the first time. Economists predict that claims will rise from 198,000 to 203,000.

Should claims fall below expectations, this may indicate a robust economy, boosting the dollar and putting additional pressure on cryptocurrencies like Bitcoin. Conversely, better numbers may support hopes for easing Fed policies, potentially benefiting Bitcoin.

3. Core PCE Price Index Release

Scheduled for January 22 at 1:30 PM ET, the Core PCE Price Index — the Fed’s preferred measure of inflation — is expected to rise to 0.2%, up from the prior 0.1%. This data may impact expectations for monetary policy and rate cuts in 2026. High inflation could attract investment away from cryptocurrencies as higher yields promote capital flows out of riskier assets.

4. University of Michigan Consumer Sentiment Index

Finally, on January 23 at 3:00 PM ET, the Revised University of Michigan Consumer Sentiment Index for January is expected to remain at historically low levels of 54.0. This metric provides insight into the economic outlook of average consumers, which is vital for the retail-driven nature of the crypto market. If consumer sentiment improves, it could support Bitcoin prices, while a decline could suppress market enthusiasm.

Current Bitcoin Status

As of this article's publication, Bitcoin is trading at $92,663, having decreased by nearly 3% over the previous 24 hours.

By understanding these upcoming economic events, traders can better navigate potential changes in Bitcoin sentiment and market dynamics.