Solana Beats Ethereum and Tron With $271 Million in Q2 Network Revenue

Immutable (IMX) has emerged as the market’s top gainer over the past 24 hours, rallying more than 40% as bullish sentiment strengthens across the crypto market. 

The surge comes as Bitcoin (BTC) reclaims the key psychological level of $90,000, fueling a broader market rebound that has lifted several altcoins.

IMX Surges 41% to 27-Day High

IMX currently trades at a 27-day high of $0.65, noting a 41% price hike over the past day. During the same period, its trading volume recorded a surge of 761%, confirming the uptick in IMX’s trading activity.

When an asset’s price and trading volume rise simultaneously, it signals strong market interest and increased buying pressure. The combination confirms the strength of IMX’s bullish trend, as more traders are entering positions at higher prices. This indicates the potential for continued upward momentum.

On the daily chart, IMX trades above its 20-day exponential moving average (EMA), highlighting the bullish bias among its spot market participants. This key moving average measures an asset’s average trading price over the past 20 trading days, giving more weight to recent prices. 

When an asset’s price climbs above this level, it suggests a shift toward short-term bullish momentum. This crossover confirms that IMX buyers are gaining control, and the asset is entering an uptrend. 

Further, readings from the token’s Moving Average Convergence Divergence (MACD) support this bullish outlook. At press time, the MACD line (blue) rests above the signal (yellow) and zero lines.

An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines. 

When the MACD line rests above the signal line, buying activity dominates the market. For IMX, this setup reinforces the recent price surge and suggests that upward pressure may continue as traders build confidence in the asset’s short-term trajectory.

IMX Bulls in Control: Rally Could Extend to $0.87

IMX’s Balance of Power (BoP) currently rests above zero at 0.54, signaling that buyers control the market. A BoP reading above zero reflects strong accumulation, indicating demand outweighs selling pressure. 

This reading supports the broader bullish outlook for IMX, suggesting that the recent price rally is backed by sustained investor interest. In this case, IMX could extend its rally to $0.79. 

However, if traders begin profit-taking, IMX could reverse its current uptrend and fall to $0.34.

The post Immutable (IMX) Hits 27-Day High as Token Leads Market Gains appeared first on BeInCrypto.

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.

US Economic Data To Watch This Week

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.

Consumer Confidence

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.

JOLTS Job Openings

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.

ADP Employment

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.

Q1 GDP

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.

PCE

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.

Initial Jobless Claims

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.

Non-farm Payrolls

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.