Following last week's release of the US CPI (Consumer Price Index) and PPI (Producer Price Index), which are key economic indicators affecting the Federal Reserve's monetary policy, traders and investors are closely monitoring data points with implications for the crypto market.

This week, the crypto market will pay attention to four US economic indicators that are impacting Bitcoin (BTC) due to the increasing influence of macro events.

The four main US economic data points that could impact sentiment towards Bitcoin and the crypto market this week are as follows:

Firstly, Initial Jobless Claims, reported weekly, measure the number of individuals applying for unemployment benefits for the first time. It reflects the health of the labor market, affecting investor sentiment and expectations of monetary policy.

Secondly, the Services PMI, released monthly by S&P Global, assesses activity in the US services sector, including areas like transport and finance. The Services PMI influences risk sentiment and USD dynamics, with a reading above 50 indicating expansion and below 50 indicating contraction.

Next, the Manufacturing PMI, also reported by S&P Global, measures the activity in the US manufacturing sector. A reading above 50 means expansion, while below 50 indicates contraction. This indicator reflects industrial health and influences USD strength and risk appetite in the crypto market.

Lastly, Existing Home Sales, reported monthly by the National Association of Realtors, track the annualized rate of pre-owned home transactions. It reflects consumer confidence and the health of the housing market, indirectly affecting monetary policy and risk sentiment in the crypto market.

The outcomes of these indicators could impact Bitcoin and the crypto market as investors seek hedges against uncertainty or stimulate rallies by signaling economic challenges. Crypto traders closely monitor these economic indicators for their influence on macroeconomic trends, market volatility, and currency strength, which ultimately impact the performance of Bitcoin.