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Bitcoin Price Likely to Consolidate Amid Key U.S. Economic Data Releases

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Bitcoin Price Likely to Consolidate Amid Key U.S. Economic Data Releases

by Daisy Mae D.
04/29/2025
in Data & Analytics, Economic Indicators

supplychainreport | April 29, 2025

Bitcoin (BTC) may enter a consolidation phase this week following a 10.37% rally over the past seven days, during which the cryptocurrency reached a high of $95,700. The surge was fueled by strong spot market demand, increased activity from spot Bitcoin ETFs, and corporate announcements such as a $1.42 billion BTC purchase by Strategy. However, with fewer notable events on the crypto news front, market activity could slow, leading to reduced upward momentum.

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Several important U.S. macroeconomic reports are expected this week and could influence investor sentiment across risk assets, including cryptocurrencies. On April 29, the Job Openings and Labor Turnover Survey (JOLTS) will be released, offering insight into employment trends and labor market dynamics.

The Core Personal Consumption Expenditures (PCE) price index—considered a key inflation metric by U.S. policymakers—will be published on April 30. Investors often view the PCE report as an indicator of potential shifts in interest rate policy.

On May 1, the Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI) will be released. This report will provide updates on manufacturing sector activity, which has shown signs of uncertainty in recent months due to changes in trade policies and input costs.

The U.S. monthly jobs report is scheduled for May 2. Analysts will be closely watching this data for signs of slowing employment growth or changes in wage trends, which could impact financial markets more broadly.

Currently, Bitcoin is trading slightly below $95,000 and has been fluctuating within a tight range between $93,000 and $95,500 since April 25. With the week packed with economic indicators, market participants may adopt a cautious approach, potentially reinforcing a period of price consolidation for Bitcoin.

#SupplyChainNews #NewsUpdate #BitcoinMarkets #EconomicData #CryptoOutlook

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