Analysis: Cryptocurrency Volatility to Increase This Week as Key Macro Events Loom
CryptoNewsTerminal Staff10 Jun, 2024
Analysis: Cryptocurrency Volatility to Increase This Week as Key Macro Events Loom
Cryptocurrency market volatility is expected to increase this week ahead of key macroeconomic events, including the release of US May CPI data on Tuesday, the US Federal Reserve's interest rate decision on Wednesday, and a speech by US Treasury Secretary Janet Yellen on Thursday, according to a market briefing from crypto trading firm Genesis Global Trading's research arm. Volatility had subsided over the weekend after the US nonfarm payrolls report came in above expectations, triggering $400 million in liquidations across BTC and ETH futures, but analysts expect volatility to pick up again this week due to the upcoming macro events.
