This week, the focus is on Bitcoin (BTC) in anticipation of key US economic data that could affect the cryptocurrency market. President Trump’s economic policies have made Bitcoin and other crypto assets vulnerable to macroeconomic events.

As Bitcoin trades above $100,000, its potential growth relies on specific US economic data being released this week.

Key US Economic Data to Monitor:

Crypto traders and investors are particularly interested in the following US economic indicators this week.

- Consumer Price Index (CPI):

April's US Consumer Price Index (CPI) data is anticipated to be a significant factor for Bitcoin and crypto trading. With a focus on US CPI following China's recent data and the Fed's statements, Tuesday's results will serve as a crucial indicator.

- Initial Jobless Claims:

Another important indicator is the initial jobless claims data, which reveals the number of first-time unemployment insurance applicants. A recent drop in claims suggests a stable labor market, seen as positive for the economy but potentially negative for Bitcoin.

- Producer Price Index (PPI):

The US Producer Price Index (PPI) data tracks company price changes and can impact inflation. A lower-than-expected PPI could signal potential Fed rate cuts, affecting Bitcoin and risk assets.

- Consumer Sentiment:

The Consumer Sentiment report will show whether market sentiment is optimistic or pessimistic. Any notable shifts may influence Bitcoin prices and risk asset liquidity.

Overall, US economic data releases this week, such as the CPI, initial jobless claims, PPI, and consumer sentiment, hold significance for Bitcoin's performance and the broader crypto market.