Key Factors Likely to Influence Cryptocurrency Markets This Week

Cryptocurrency markets experienced little movement over the weekend, as investors braced themselves after a staggering $700 billion drop last week. The upcoming days are likely to usher in more volatility as crucial economic data, including labor market and inflation reports, approach.

US President Trump emphasized his aim for the Dow Jones to reach 100,000, coinciding with a rise in US stock futures on Monday morning. Precious metals are also on the mend, with gold rebounding to $5,000 per ounce and silver climbing back to $80 per ounce.

Economic Events Scheduled for Feb. 9 to 13

The recent partial government shutdown has already disrupted key data releases. Delayed December Retail Sales figures are expected today, providing insights into consumer spending.

This will be succeeded by job market statistics in the January Jobs Report on Wednesday and Initial Jobless Claims data on Thursday.

“The most important thing, believe it or not, is the Labor Department’s nonfarm payroll report on Wednesday,” Jim Cramer, an analyst at CNBC, remarked. “If that comes in soft, it means the Fed can keep cutting rates, and that’s great news for the stock market itself.”

Additionally, January’s CPI Inflation report is set to be released on Friday. The Consumer Price Index details average changes over time in the prices consumers pay for a basket of goods and services.

This Week’s Major Events:

December Retail Sales data – Monday
January Jobs Report – Wednesday
Initial Jobless Claims data – Thursday
January Existing Home Sales data – Thursday
January CPI Inflation data – Friday
5 Fed speaker events throughout the week

These reports on the labor market and inflation are vital for investors and policymakers to gauge the health of the US economy and significantly affect the Federal Reserve’s monetary decisions.

Crypto Market Overview

Overall, the crypto markets have remained mostly stagnant, with total capitalization around $2.45 trillion, marking the lowest point since November 2024. Bitcoin has managed to recover to $71,000 following a dip to $60,000 on Friday, although it is still 44% below its peak.

Ether reached $2,100 but advanced little beyond that, remaining significantly down 58% from its all-time high in August. Meanwhile, many altcoins saw slight growth, but most are still struggling after last week’s crashes.

“Rate expectations have remained surprisingly stable recently,” noted Angelo Kourkafas, a senior global investment strategist at Edward Jones.

“We’ll see if any weakness in labor market data or an unexpected dip in inflation hastens the timeline for anticipated rate cuts.”