While the price of Bitcoin has risen above $70,000 again, the developments to be experienced this week may also closely affect prices. Especially after the non-farm employment data (USA) announced on Friday, the inflation figures to be announced on Wednesday are also eagerly awaited.

The Consumer Price Index in the US increased by 3.2% on an annual basis in February, above market expectations (3.1%). This time, the expectation is seen as 3.4%. One of the biggest reasons for the increase in inflation expectations is seen as the oil price surpassing $90 per barrel. Core inflation figures will also be of great importance in the data to be announced.

“The Fed may not cut interest rates,” he said

If inflation does not fall as much as the Fedwants, or if it is higher than expectations, it may also undermine interest rate cuts. Last week, Fed member Neel Kashkari said, “If the figures are not what we expect, it may be possible that no interest rate cuts will be made in 2024.” This is why inflation figures are of great importance…

As it will be remembered, last week’s non-farm employment data was 303,000 per month. The expectation was 214,000. This was an indication of the economy’s reluctance to cool down.

What message will the minutes give?

After the inflation data to be announced on Wednesday, the minutes of the Fed’s March meeting will be published in the evening hours of the same day (21.00 TSI). The speeches and messages of Chairman Powell and other Fed members will also provide insight into the future.

BlackRock first quarter earnings report is also coming

On the other hand, the earnings reports of BlackRock, which has received billions of dollars of investment with the interest in Bitcoin ETFs, will be announced on Friday. Beyond the figures, CEO Larry Fink, who has recently made positive statements about tokenisation, may also make words about cryptocurrencies and Bitcoin. Fink’s possible positive or negative words may also affect prices.