The post Inflation, Earnings, and Airstrikes: 3 Things That Could Impact Crypto This Week appeared on BitcoinEthereumNews.com. Home » Crypto News All eyes willThe post Inflation, Earnings, and Airstrikes: 3 Things That Could Impact Crypto This Week appeared on BitcoinEthereumNews.com. Home » Crypto News All eyes will

Inflation, Earnings, and Airstrikes: 3 Things That Could Impact Crypto This Week

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All eyes will be on the market reaction to the weekend’s failed negotiations in the Middle East, while more inflation data is due in the United States.

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Summarize with AI


Summarize with AI

Crypto markets are falling this Monday morning in Asia as investors react to the breakdown in negotiations between Iran and the US.

President Trump is looking at resuming “limited military strikes” in Iran in addition to the US blockade of the Strait of Hormuz, reported the Wall Street Journal late on Sunday.

Economic Events April 13 to 17

Trump also ramped up the rhetoric, threatening to resume the airstrikes less than a week after the ceasefire began.

Oil prices jumped 7% back to around $104 per barrel on Sunday, while stock futures and crypto markets were in freefall again. The big economic report of the week is the March PPI Inflation data, released on Tuesday. With oil prices surging again, inflationary pressures have returned as recent data showed a sharp surge in CPI, driven by a spike in energy prices.

Thursday will see the release of the Philly Fed Manufacturing Index and Initial Jobless Claims data. There are also ten Federal Reserve speaker events this week, which could set the tone for direction on US interest rates. Surging inflation will pressure the central bank to raise rates again, which is not good news for crypto investing.

Meanwhile, Wall Street banking heavyweights, including Goldman Sachs, JPMorgan Chase, Wells Fargo, and Citigroup, will release earnings reports this week.

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Crypto Market Sees Red

Total capitalization has dipped around $70 billion over the weekend and was sitting just below $2.5 trillion at the time of writing.

Bitcoin fell to $70,500 in early trading on Monday morning but had reclaimed $71,000 shortly after. A fall back into the high $60,000 zone now seems inevitable with the resumption of military action in Iran.

Ether prices were down more than 3% as the asset fell back below $2,200, and the altcoins had wiped out all of last week’s gains.

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Source: https://cryptopotato.com/inflation-earnings-and-airstrikes-3-things-that-could-impact-crypto-this-week/

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