7 US Economic Indicators to Watch That Could Impact Bitcoin This Week

This week’s US economic indicators, including Consumer Confidence and Job Openings, could significantly impact Bitcoin and crypto market sentiment. Positive data may fuel bullishness while disappointing results could drive investors toward safer assets. With multiple key reports releasing, market volatility is expected as traders react.

Bitcoin (BTC) seems to be stuck, trading below the $94,000 mark, while remaining reactively attuned to a series of US economic indicators. This week, the economic data out of the states might stir up some volatility within the crypto markets, which traders are certainly keeping an eye on. As sentiment shifts driven by anything from consumer confidence to labor market dynamics, it could lead to fluctuations in crypto prices.

The first major indicator to watch for this week is the Conference Board’s Consumer Confidence report, dropping on Tuesday. This will show whether households feel optimistic about their financial circumstances. Last March’s index sat at 92.9, which wasn’t a great sign, suggesting people were feeling rather pessimistic. MarketWatch reports a median forecast of 87.4 this time—any number below this could lead to profit-taking in crypto, particularly for Bitcoin, as confidence ebbs.

The second crucial piece of data on the docket is the Job Openings and Labor Turnover Survey (JOLTS), also debuting this Tuesday. The last report for February 2025 displayed 7.6 million job openings, and the upcoming March data is expected to reveal a slight drop to 7.4 million. If openings rebound, it could nudge crypto prices higher. But if it falls short, recession alarms might ring, pushing investors towards Bitcoin as a protective measure.

Next up, the ADP National Employment Report, set for Wednesday. March’s private-sector jobs report exceeded expectations with a gain of 155,000 jobs. If this month sees more than 160,000, it could ignite bullish momentum for Bitcoin. But a disappointing figure below 155,000 could shift sentiment from riskier assets towards safer options like stablecoins or Bitcoin itself.

There’s also GDP data hitting the screen on Wednesday, which gauges overall economic growth. The advance estimate for Q1 2025 GDP will provide fresh insight. Strong figures above 3% could signal health in the economy, resulting in more crypto investment. Conversely, weak growth could lead to hopes for rate cuts, which tends to support crypto prices, while stronger growth might reduce those hopes.

The Core PCE inflation index, the Fed’s top choice for gauging inflation, will also take the stage this Wednesday. Following a 2.5% year-over-year figure in February, experts are anticipating a modest slip to 2.2% in March. A lower reading than expected can ignite optimism for rate cuts, thus providing a lift for Bitcoin. A higher number, however, could signal tighter policies ahead, which isn’t ideal for the crypto sector.

Following this, on Thursday, the Initial Jobless Claims report—a crucial indicator for understanding job market dynamics—will be released. Claims around 222,000 have been noted, and anything under that could mean a solid labour market, lifting Bitcoin prices. But a rise in claims above this benchmark may raise red flags about economic downturns, again driving investors back to crypto as a sanctuary.

Finally, the Non-farm Payrolls report drops on Friday, summarising job gains for March, which stood at a surprising 228,000 last month. A strong outcome here could fuel further gains for Bitcoin. However, a weak report risking an underperformance compared to the median forecast might have investors hiding in Bitcoin or solidifying in stablecoins, especially if wage growth comes in heavier than anticipated.

As of now, Bitcoin is trading at $94,154, slightly up by 0.29% in the past day, according to BeInCrypto. The week ahead is clearly pivotal for both the economy and the crypto markets.

Disclaimer: This article provides an overview based on current economic indicators and market data, and should not be deemed as financial advice.