The post-FOMC meeting result has been favorable for the crypto market, as it’s witnessing a significant uptrend. Previously, experts have anticipated high volatility around the Fed’s decision on interest rates, but the market remains relatively stable and even bullish for a few cryptocurrencies. However, this may not last long as two important macroeconomic events will take place today, May 8, whose outcome would affect the digital assets. Let’s discuss.
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Crypto Market News: Key Macroeconomic Events to Watch Today
Various macroeconomic events put strong pressure on the crypto market, and two such events are happening today. Economic data releases, including Initial Jobless Claims, Unit Labor Costs, Fed’s Balance sheet, and many others, will take place on May 8.
In this, the Initial Jobless Claim is an important macroeconomic event, which will be released at 8:30 ET. It is expected at 231k, down from the previous 241k per Zacks report. In addition, the Coinbase Q1 2025 earnings report will be out.
Coinbase is among the biggest cryptocurrency exchanges and has a significant impact on the digital assets and stock market. Crypto investors and stock investors are awaiting its results, especially as analysts expect EPS to be $1.93, less than Q4 2024 ($2.26).
In addition, experts also foresee a decline in revenue and trading volume. Altogether, this could affect the cryptocurrency market and the COIN stock price. The Coinbase earnings report will be announced on May 8, 2025, once the market closes.
Coinbase crushed it in Q1 2024
– Revenue: $1.6B (+72% vs Q4)
– Opex: $0.9B (+5% vs Q4)
– Net Income: $1.2B (+331% vs Q4)
– Adj. EBITDA: $1.0B (+213% vs Q4)
– Cash: $7.1B (+24% vs Q4)
– 2x USDC on platform vs Q4
– 8x Base developers vs Q4 pic.twitter.com/nEO96t687p
— Ryan Rasmussen (@RasterlyRock) May 2, 2024
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Will the Crypto Market Crash Next?
The performance of the digital assets and the market depends entirely on the sentiments of the investor. The decline in Coinbase earnings report expectations already indicates the weaker sentiments of the users, and the other macroeconomic events could worsen it.
If the Jobless Claims are lower than expected, the crypto market could crash. However, if the data is above expectations, the market could rally. The FOMC meeting result has fueled the rally of the digital assets, and more can be anticipated, but uncertainty remains.
Bitcoin price has surged massively and is nearing the $100,000 mark. A bullish stimulus from these macroeconomic events could aid in the rally.
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Frequently Asked Questions (FAQs)
Why is the crypto market up today?
The crypto market is up as the Trump tariff influenced fear sentiments settled, and the investors' confidence increased in the market.
Why are the Initial Jobless Claims and the Coinbase Q1 earnings report important?
Both of these are key economic events that could affect investors' sentiment; hence, the performance of the crypto market depends on these and other similar factors.
Will Bitcoin price hit $100k next?
Bitcoin price is nearing the $100k mark after a more than 3% surge in the last 24 hours. If the macroeconomic events support and the bullish trend continues, BTC could hit $100k.
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2 Macroeconomic Events to Watch Today: Could They Trigger Crypto Market Crash? | CoinGape
The post-FOMC meeting result has been favorable for the crypto market, as it’s witnessing a significant uptrend. Previously, experts have anticipated high volatility around the Fed’s decision on interest rates, but the market remains relatively stable and even bullish for a few cryptocurrencies. However, this may not last long as two important macroeconomic events will take place today, May 8, whose outcome would affect the digital assets. Let’s discuss.
Advertisement
Advertisement
Crypto Market News: Key Macroeconomic Events to Watch Today
Various macroeconomic events put strong pressure on the crypto market, and two such events are happening today. Economic data releases, including Initial Jobless Claims, Unit Labor Costs, Fed’s Balance sheet, and many others, will take place on May 8.
In this, the Initial Jobless Claim is an important macroeconomic event, which will be released at 8:30 ET. It is expected at 231k, down from the previous 241k per Zacks report. In addition, the Coinbase Q1 2025 earnings report will be out.
Coinbase is among the biggest cryptocurrency exchanges and has a significant impact on the digital assets and stock market. Crypto investors and stock investors are awaiting its results, especially as analysts expect EPS to be $1.93, less than Q4 2024 ($2.26).
In addition, experts also foresee a decline in revenue and trading volume. Altogether, this could affect the cryptocurrency market and the COIN stock price. The Coinbase earnings report will be announced on May 8, 2025, once the market closes.
Advertisement
Advertisement
Will the Crypto Market Crash Next?
The performance of the digital assets and the market depends entirely on the sentiments of the investor. The decline in Coinbase earnings report expectations already indicates the weaker sentiments of the users, and the other macroeconomic events could worsen it.
If the Jobless Claims are lower than expected, the crypto market could crash. However, if the data is above expectations, the market could rally. The FOMC meeting result has fueled the rally of the digital assets, and more can be anticipated, but uncertainty remains.
Bitcoin price has surged massively and is nearing the $100,000 mark. A bullish stimulus from these macroeconomic events could aid in the rally.
Advertisement
Frequently Asked Questions (FAQs)
The crypto market is up as the Trump tariff influenced fear sentiments settled, and the investors' confidence increased in the market.
Both of these are key economic events that could affect investors' sentiment; hence, the performance of the crypto market depends on these and other similar factors.
Bitcoin price is nearing the $100k mark after a more than 3% surge in the last 24 hours. If the macroeconomic events support and the bullish trend continues, BTC could hit $100k.
✓ Share:
