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The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the staking feature included in Franklin Templeton’s spot Ethereum Exchange-Traded Fund (ETF) proposal. The application, submitted through the Cboe BZX Exchange, is part of a broader wave of crypto ETF filings currently under regulatory review. SEC Delays Decision on Franklin Templeton Ethereum ETF
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Bitcoin (BTC) is hovering below the $94,000 level while still showing sensitivity to US economic indicators. Accordingly, this week’s US economic data could spark volatility in the crypto market.
From consumer confidence to labor market strength, economic indicators could influence sentiment and sway crypto prices.
The following US economic indicators could affect the portfolios of crypto market traders and investors.
“Let me try to help you make sense of everything that’s going on: Tariff madness, plunging consumer confidence, rising recession odds, market fragility and all the ways that the economy will shape your life,” economist Justin Wolfers remarked.
The Consumer Confidence report will start the list of US economic indicators with crypto implications this week. On Tuesday, April’s Conference Board’s Consumer Confidence Index will show whether households are optimistic about financial conditions.
March’s 92.9 index signaled a relatively pessimistic outlook among US consumers concerning the economy and their financial situation.
According to data on MarketWatch, the median forecast is 87.4. Strong confidence often correlates with risk-on sentiment, driving investment into Bitcoin and altcoins.
Accordingly, reading below expectations might trigger profit-taking, denting confidence in the economy’s overall strength.
With global trade tensions, an unexpected decline could amplify safe-haven demand for Bitcoin, though volatility remains a risk.
“The soft data suggests that the hard data is set to fall. Consumer Confidence can lead the unemployment rate (inverted). If that ends up being the case this time around, we’re looking at around 6% or higher,” wrote Markets and Mayhem.
This week, the Job Openings and Labor Turnover Survey (JOLT), which tracks demand, adds to the list of US economic indicators.
The last JOLTS report was released on April 1, covering February 2025 data. It reported job openings at 7.6 million, hires at 5.4 million, and total separations at 5.3 million. The next JOLTS report, for March 2025, is due on Tuesday, with a median forecast of 7.4 million.
A rebound above 7.6 million for crypto could signal economic resilience, boosting risk assets like Bitcoin. Strong openings suggest hiring confidence, potentially increasing disposable income for crypto investments.
However, a weaker-than-expected figure, potentially below the median forecast of 7.4 million, might stoke recession fears. Such an outcome would drive investors toward Bitcoin as a hedge.
Crypto markets react to labor market signals as they influence Federal Reserve (Fed) policy expectations. With rates at 4.25%–4.5%, a tight labor market could delay cuts, pressuring speculative assets.
The ADP National Employment Report tracks private-sector job growth and will be out on Wednesday. March 2025’s 155,000 jobs beat expectations, signaling labor market strength despite tariff concerns.
A strong reading above 160,000 for crypto could ignite bullish sentiment, as job growth fuels consumer spending and risk appetite. If employment data suggests economic expansion, Bitcoin could gain more upside potential.
However, a miss below the March reading of 155,000 or below the median forecast of 110,000 might spark fears of a slowdown. This could push investors toward stablecoins or Bitcoin as safe havens.
Unlike the Bureau of Labor Statistics’ Non-farm Payrolls (NFP), ADP’s payroll-based methodology excludes government jobs. This methodology offers a granular view.
With markets eyeing Fed policy, ADP’s outcome will set the tone for Friday’s NFP.
The advance estimate for Q1 2025 GDP will be released on Wednesday. This data also measures economic growth.
Q3 2024’s 2.8% annualized rate fell short of expectations, pressured by trade deficits. Meanwhile, Q4 2024’s 2.4% reading came following a downward revision to imports.
Strong GDP growth above 3% in crypto signals economic health, often boosting Bitcoin as investors embrace risk. Nevertheless, crypto markets are sensitive to GDP revisions and influence Fed rate decisions.
With inflation concerns lingering, a strong GDP, higher than Q4’s 2.4%, might reduce rate-cut hopes, pressuring speculative cryptos. Conversely, sluggish growth could spur expectations of monetary easing.
The Fed’s preferred inflation gauge is the Core PCE (Personal Consumption Expenditures) Price Index. This US economic indicator, covering March, will come out on Wednesday this week after the March 28 data covering February.
After February 2025 saw a 2.5% year-over-year (YoY) PCE index, economists anticipate a modest drop to 2.2% for March, reflecting persistent price pressures.
Nevertheless, a PCE reading below 2.5% for Bitcoin could signal cooling inflation, raising hopes for rate cuts and boosting sentiment toward Bitcoin.
A hotter-than-expected figure above the previous reading of 2.5% might tighten Fed policy expectations. PCE’s exclusion of volatile food and energy prices offers a stable inflation view, making it a key driver of crypto sentiment.
With markets sensitive to monetary policy shifts, traders should monitor services spending, as it reflects consumer resilience. Nevertheless, volatility is likely, as PCE shapes the Fed’s rhetoric.
“March PCE inflation (out on Wed Apr 30) should read 2.1% (rounded). April PCE (out in late May) should read 2.0% (rounded). Tariffs are a boss but this is the Fed’s target measure. It could be time to cut, to be honest, politics aside,” wrote hedge fund manager Ophir Gottlieb.
This week, the Initial Jobless Claims, reported every Thursday, adds to the list of US economic indicators. This data measures weekly unemployment filings. Claims are a high-frequency indicator, offering real-time labor market insights, and crypto markets often react swiftly to surprises.
For the week ending April 18, 222,000 claims indicated a steady labor market despite tariff chaos. Accordingly, claims below 222,000 could signal growing employment, fostering risk-on sentiment, and lifting Bitcoin.
However, higher claims above 222,000 could spark concerns of economic softening, driving investors to stablecoins or Bitcoin for safety. With the Fed closely monitoring labor data, an unexpected spike might fuel rate-cut speculation.
The Non-farm Payrolls (NFP) report will be released on Friday. March 2025’s 228,000-job gain exceeded expectations, with unemployment at 4.2%.
A strong NFP could drive bullish momentum, as job growth signals consumer spending power. A weak report below the median forecast of 130,000 might trigger recession fears, pushing capital to Bitcoin as a hedge or stablecoins for stability.
NFP’s broad scope, covering 80% of GDP-contributing workers, makes it a market mover. Key interest will also be on wage growth, as 0.3% monthly increases suggest inflation pressures, potentially capping crypto gains.
With markets pricing in Fed policy, surprises could spark sharp volatility.
BeInCrypto data shows Bitcoin was trading for $94,154 as of this writing, up by a modest 0.29% in the last 24 hours.
The post 7 US Economic Indicators To Influence Bitcoin and Crypto Sentiment This Week appeared first on BeInCrypto.
Germany’s industrial sector has shown signs of struggle, with the latest data revealing a 2.5% month-on-month (MoM) decline in industrial…
The post Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions appeared first on Coinpedia Fintech News
Pi Network price has surged over 4% in the past 24 hours following the launch of its Migration Roadmap. Although the token is showing some signs of recovery across several indicators, it is too soon to confirm an uptrend.
Although technical indicators like the Ichimoku Cloud and RSI hint that price might be recovering, it’s still facing strong resistance that is blocking a clear breakout. Besides, many in the Pi Community are frustrated that the new Migration Roadmap is not clear enough which adds another layer of uncertainty about where the price is headed next.
Pi Network released its Mainnet Migration Roadmap, but it lacks specific dates and clear details, leaving users frustrated. The roadmap outlines three phases, but no timelines are given, causing uncertainty. Some users noticed discrepancies in their coin balances, with no way to resolve them.
Additionally, the claim that all tokens were minted at genesis has sparked debate, raising concerns about the project’s transparency. With 108.9 million tokens unlocked this month, users are unsure how the migration will unfold. These issues are weakening trust in the Pi Network.
It is trading just below the Ichimoku Cloud, a key resistance area which signals that buyers are trying to push the price up. Although the price has been making some higher lows and hinting at a possible recovery, it still has not broken the resistance yet.
Besides, the market is still not strongly bullish yet, showing that the short-term momentum is weaker than the medium-term trend, hence its not a clear signal to buy. Traders are being cautious and are waiting for stronger signs before making any big moves.
Also, the Ichimoku Cloud is getting thicker and more tilted, which suggests that bigger price swings may be imminent. If Pi breaks above the cloud, it could signal a strong upward trend. However, until thay happens, Pi remains in a vulnerable position with a risk of rejection still likely.
Pi Network’s RSI has bounced back to 53.77 from 32.34, signaling recovery. However, after peaking at 57.25, it has cooled slightly, weakening bullish momentum. The RSI is in neutral-bullish territory, showing moderate strength but still far from overbought levels. If momentum builds, there’s potential for growth, but caution is stil needed as the trend is not yet solid.
Pi Network (PI) is testing key resistance at $0.66. A breakout could push the price to $0.789 and $0.858, possibly reigniting bullish momentum. A successful breakout could possibly push PI to $1.23 or $1.79. However, frustrations over the unclear Migration Roadmap add uncertainty. If PI fails to break $0.66, it may dip toward $0.54 or $0.40.
The next few sessions are crucial for determining the token’s direction, heavily influenced by both technical signals and community sentiment, awaiting a clear breakout or drop.
With the Consensus 2025 fast approaching, excitement is building in the Pi Network Community. Analyst Dr Altcoin notes that this event is a major chance to promote Pi Network especially as the Pi founder Nicolas Kokkalis is set to share the stage with personalities like Bo Hines and Eric Trump.
Dr. Altcoin believes that Consensus 2025 could be a game-changer for Pi Network, only if the Pi Core Team acts fast. He’s urging them to approve all KYB applications and officially launch DApps in the Pi ecosystem before the event to maximise the opportunity on the global spotlight and boost Pi’s credibility and growth.
The Pi Core Team has under a month to approve KYB and launch DApps before Consensus 2025, as delays have driven some projects to other blockchains. Pi is currently priced around $0.64, but with upcoming developments and potential adoption by big institutions, some believe it could reach $30, although short-term volatility remains a concern.
The post Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions appeared first on Coinpedia Fintech News
Pi Network price has surged over 4% in the past 24 hours following the launch of its Migration Roadmap. Although the token is showing some signs of recovery across several indicators, it is too soon to confirm an uptrend. Although technical indicators like the Ichimoku Cloud and RSI hint that price might be recovering, it’s …