{"id":602853,"date":"2023-01-30T11:15:00","date_gmt":"2023-01-30T17:15:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/30\/crypto-market-turns-red-here-are-the-key-events-to-watch-this-week\/"},"modified":"2023-01-30T11:15:00","modified_gmt":"2023-01-30T17:15:00","slug":"crypto-market-turns-red-here-are-the-key-events-to-watch-this-week","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/30\/crypto-market-turns-red-here-are-the-key-events-to-watch-this-week\/","title":{"rendered":"Crypto Market Turns Red \u2013 Here Are The Key Events To Watch This Week"},"content":{"rendered":"
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\"Trading-Cryptocurrency\"<\/figure>\n<\/div>\n
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The crypto market started the year on a positive note where most of the cryptocurrencies doubled their value. Since the start of 2023 Bitcoin<\/a> has jumped nearly 40% and managed to hit a high of $23,861 just a day before, on January 29. This phenomenon pushed the overall cryptocurrencies on a brighter side where even the global crypto market cap has moved beyond the $1 trillion mark.<\/p>\n

At the time of writing, Bitcoin is valued at $23,236 after a fall of 1.32% over the last 24hrs.<\/p>\n

However, many industry experts have claimed that the upcoming week will not be a cakewalk for the crypto market<\/a>. This is because they expect many global events that might rebound the positive market and the same is already felt as BTC loses nearly 2% in the last 24hrs.<\/p>\n

Top Events Affecting Crypto Market<\/h2>\n
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  1. Fed\u2019s Interest Rate Hike<\/li>\n<\/ol>\n

    The Federal Open Market Committee or also known as FOMC<\/a> is set to have its next meeting on February 1st. Even though most of the investors and traders expect the US Federal Reserve to reduce the interest rate hike by 25bps, the possibility for 50 bps is still under consideration. Further, this interest rate hike will influence Fed Chair Jerome Powell\u2019s approach.<\/p>\n

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    1. Interest Rate Hike By European Central Bank<\/li>\n<\/ol>\n

      Next, as per the reports, the European Central Bank is expected to increase interest rate by 50 bps. Along with the European Central Bank, even the Bank of England is set to hike interest rates by 50 bps on February 2nd.<\/p>\n

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      1. Major Tech Companies To Release Quarterly Results<\/li>\n<\/ol>\n

        It\u2019s a known fact that the crypto market is always correlated with the US stock market, especially Nasdaq 100. This week major tech companies like Meta, Apple, Google and Microsoft are set to release their quarterly report which will have a deep impact on Bitcoin.<\/p>\n

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        1. US Unemployment Data<\/li>\n<\/ol>\n

          This week the US Bureau of Labor Statistics will release the non-farm payrolls and their unemployment rate data. As of December 2022, the US unemployment data has decreased to 3.5% as the country\u2019s economy had added 223,000 jobs during the same time.<\/p>\n

          The coming week will be extremely important for the crypto market because of which the traders and investors will have to reconsider their investment decisions.<\/p>\n<\/div>\n

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          Elena R<\/a><\/h3>\n

          Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

          Read More<\/a>
          \n Elena R<\/p>\n","protected":false},"excerpt":{"rendered":"

          The crypto market started the year on a positive note where most of the cryptocurrencies doubled their value. Since the start of 2023 Bitcoin has jumped nearly 40% and managed to hit a high of $23,861 just a day before, on January 29. This phenomenon pushed the overall cryptocurrencies on a brighter side where even […]<\/p>\n","protected":false},"author":1,"featured_media":602854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,534,497],"tags":[],"class_list":{"0":"post-602853","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"category-financial","9":"category-market"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=602853"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/602854"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=602853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=602853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=602853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}