Fedspeak and Flash PMIs: What's Next for Bitcoin?
The crypto market is entering a potentially impactful week after ending one of its most important weeks on a high note. The Federal Reserve's recent rate hike has brought some volatility to the market, but the bulls have taken control, and Bitcoin has ended the week at over $80,000.
This week is lighter in terms of major economic events, but there are still several key indicators that could shape the broader financial markets. One of these events is the barrage of Federal Reserve speakers, who will be sharing their views on last week's rate hike and what it means for future policy decisions.
Wednesday brings the flash PMI data, which will provide an early indication of how the US economy is performing following the rate hike. Stronger-than-expected readings could reinforce the argument that the economy can withstand tighter policy, while weaker readings could indicate a more cautious approach from the Fed.
Thursday's scheduled meeting between the presidents of the two largest economies will also be closely watched by markets. The meeting covers trade, investments, export controls, and other long-running points of tension between Washington and Beijing.