The crypto market has seen a notable recovery, with the market cap surging by 1.35% to $2.41 trillion on Sunday. This rally was fueled by recent advancements in altcoins like DOGE, PEPE, and Pi (PI), being one of the most gainers today.
Meanwhile, the wider crypto market has recovered, with Bitcoin leading. In the last 24 hours, Bitcoin has increased by 5%. This has contributed to the daily gains of other top coins like Ethereum, XRP, Cardano, and Solana.
Key Crypto Market Events This Week
Looking ahead, several major events are expected to influence the crypto market’s trajectory. The crypto market structure bill in the U.S. Senate is one of the most crucial developments that has faced a lot of impediments.
The stalemate in negotiations over the stablecoin yield provisions has resulted in a standoff, and the White House has called on both parties to compromise before the month ends. This legislation is necessary because it may shape the future of cryptocurrency regulation in the U.S.
FOMC Events and Fed Policy Signals
On Monday, February 19, FOMC Vice Chair Lael Brainard is set to deliver a highly anticipated speech. The stockholders are keen to hear her words concerning the Federal Reserve level of addressing the problem of inflation and interest rates.
The speech could be passing very crucial data on the future policy decisions taken by the Fed particularly when considering the option of reducing the rate or readjusting its economic growth policy.
Her words are likely to predetermine the tone of the entire week course, market, and investor activity, particularly in such a risky investment as crypto.
Key Economic Data and Fed Insights to Watch
On Wednesday, February 21, the Federal Reserve will release the minutes from its January meeting, offering further clarity on the central bank’s stance on monetary policy.
The minutes are likely to be very informative about the outlook of the Fed, especially interest rates and rate of possible policy changes.
Furthermore, the Fed will release an update of its balance sheet on Thursday, February 22, which will provide insight into the level of liquidity and any changes in the strategy of the bank.
The week will end on Friday, February 23, as the U.S. will release data on GDP in the fourth quarter and the core PCE price index, an important Fed indicator of inflation. These are important economic reports that may have a great effect on the market expectations and future Federal Reserve policy actions.
To sum up, the future of the cryptocurrency market this week depends on such important events as the crypto bill in the U.S. Senate and the developments of the Federal Reserve policies. Speeches, economic data, and regulatory decisions will shape market sentiment, which will become a critical time of the year to investors.
Source: https://coingape.com/trending/top-crypto-market-events-to-watch-this-week-bearish-or-bullish/
