This week in the crypto markets, the spotlight is on the potential approval or rejection of Spot Bitcoin ETFs, which could trigger significant volatility. Investors should remain cautious due to the possibility of fake news and leaks until the ETF decisions are announced. Additionally, a significant event similar to the Matrixport case could unfold.
Key dates include the completion of documentation by potential spot Bitcoin ETF issuers on January 8, and various Federal Reserve speakers throughout the week, with the SEC’s final decision date for Spot Bitcoin ETFs (Ark & 21Shares) on January 10. Inflation data will be another focal point, with the U.S. Core CPI and CPI expected on January 11, and unemployment claims data on the same day.
The latter half of the week will see the release of the U.S. Core PPI on January 12 and significant token unlocks, including APT Coin ($225 million) and CYBER ($9.33 million). The inflation data and ETF decisions are the week’s most critical events, with the potential to dominate discussions and influence market sentiment.
Market participants are anticipating a 150 basis point rate cut, while the Federal Reserve targets 75 basis points. Upcoming data will clarify which direction interest rates are headed. If no major reversal occurs, rate cuts are expected to begin in the second quarter, signaling a move towards monetary easing.
Overall, macroeconomic developments should not be overlooked, especially after disappointing employment data. Negative inflation data could dampen optimism for the upcoming meeting at the end of the month.