On the first trading day of the first week of 2023, Bitcoin and altcoins are trading with very little change. Bitcoin and Ethereum prices have changed little with the top 10 cryptocurrencies on Monday morning. Looking at the top 10, Cardano led the gains with 1.65%, while BNB lost the most with 0.96%. So, what will happen in the markets this week? What developments will affect cryptocurrencies? Here are the details…
This data is important this week for Bitcoin and altcoins
First of all, it is worth noting that the US markets were closed on Monday, January 2, for the New Year’s Eve. In particular, stock and bond markets will be closed throughout the day. Apart from that, looking at the week from a broad perspective, December manufacturing PMI data for the US will be released on January 3rd. On January 4, the FOMC minutes will be released. The broadcast date coincides with 22:00 Turkish time.
On the other hand, the US Department of Labor will publish the unemployment application report on people applying for unemployment insurance on January 5, at 16.30 CEST. It is thought that 230 thousand people have applied for unemployment benefits. This amount was 225 thousand in the previous month. On January 5, 16.15, the US ADP non-farm employment change will affect the markets.
Again, the US Department of Labor will release its December employment report on Friday at 16.30. Accordingly, 200,000 people are expected to be employed. The previous month’s data was around 263 thousand. Also on Friday, services PMI data will be released at 17:45. Except for the developments in the USA, the European Union Producer Inflation will be announced on January 5th. According to this data, the current expectation is 27.6 percent. In the previous month, the rate was 30.8 percent. On December 6, European Union Inflation data will be released. The expectation is for inflation to drop to 9.7 percent. According to previous statements, this data was 10.1 percent.
What is the latest situation in the market?
Bitcoin has dropped 1.38 percent in the past seven days. However, it rose 0.40 percent in 24 hours to $16,603 on Monday. Ethereum is up 0.26% to $1,198, down 1.63% last week, according to CoinMarketCap. Cardano had the highest earnings among the top 10 cryptos by market cap, with 1.65%. It traded at $0.2489. BNB, the native token of the largest cryptocurrency exchange Binance, led the losses, trading at $243, down 0.96 percent in the last 24 hours.
cryptocoin.com As we reported, US authorities are reviewing Binance.US’ attempt to acquire bankrupt digital asset brokerage Voyager Digital. US stock markets closed lower on the last trading day of 2022 last Friday. The Nasdaq Composite fell 0.11 percent, while the S&P 500 closed 0.25 percent on Friday.
