American economic indicators: short -term risks before Bitcoin

Although the crypto sector is worldwide and without borders, it is always worth paying attention to American economic data because they can influence the cryptop prices, usually in the short term. There are three important economic indications from the United States this week that can have a serious impact on the price of Bitcoin or even rising Ethereum. For the week, the following statistics are affected from the world’s largest economy:

The American consumer mood and the interaction of cryptocurrencies

One of the important measures of the optimism of consumers The monthly Consumer Trust Index (CCI), which will be published on 26 August. According to Market Watch and other analysts, the number will be slightly reduced from 97.2 to 96.5 July. The CCI measures the confidence of American consumers in economic prospects. It is made monthly by Conference Board by asking for thousands of households based on the current economic situation and future expectations. The core value is 100, which was determined in 1985, everything below shows that consumers are more pessimistic than the 1985 level.

The consumer sentiment report will be published on Friday 29 August. This measures the feelings and expectations of American consumers of the economy. This report is made every month by the University of Michigan and is one of the most important indicators to understand the American economic sentiment. 500 American households are asked by telephone and the index regards the average base of 1966, which is 100. The number below is a more pessimistic atmosphere compared to the level of 1966. According to economists, the US Consumer Mood Report will remain at level 58.6 in August. This is one of the lowest values ​​in the century and Almost indicate crisis atimism.

Both indexes mean weakening the purchasing power of the consumer and an increase in caution, which can put pressure on riskier devices, including cryptocurrencies. For cryptocurrencies, weaker consumer indicators can increase speculation for relaxation of the US central bank, FED, which indirectly supports Bitcoin. On the other hand, stronger indicators in general stimulate shares, so that the liquidity is withdrawn in the short term of crypto.

The unemployment situation shows deeper problems in the US

The third US economic signal this week The first unemployment benefit, which will arrive on 28 August. In the week ending on August 16, 235,000 American citizens submitted an application for unemployment benefits. In the week that ends on August 23, experts say that this number will be reduced to 230000. At the same time, data also shows that it takes more time for us unemployed to find a new job. The number of applications for continuous unemployment benefits is steadily increasing and reaches peaks after 2021. The fact that Bitcoin becomes a mainstream is also illustrated by the fact that data from the American labor market is now influenced by the exchange rate of BTC and the willingness to risk.

If the number of unemployment benefits falls under the previous value of 235000, as analysts expect, this indicates the flexibility of the labor market. This may reduce the interest rates of the FED and turns pressure on Bitcoin’s short -term increase. However, the increase in the number of continuous auxiliary applications will probably indicate deeper cracks in employment. Crypto -markets are very sensitive to macro -economic changes and such indicators certainly influence growth -optimism and potential liquidity changes.

Finally, it is worth mentioning the number of PCE (personal consumption costs), which will also be published on August 29. This follows the costs of consumers to goods and services. Economists predict that the main indicator will be 2.6%annually, while the MAG PCE can rise to 2.9%, which is slightly higher than the 2.8%of July. The term “core” means that it excludes food and energy prices, because they often fluctuate due to external factors. The 2.9%core -PCE indicates permanent inflation, which can reduce the chances of interest rates of the FED. This can be done in the short term pressure on Bitcoin and cryptocurrencies due to limited liquidity. However, long -term inflation can give Bitcoin impulse as collateral against monetary devaluation.