Powell Talk, Jobless Claims and PCE Data Dey Cause Change for Crypto Market Palava
Dis week, cryptocurrency traders dey face key US economic events wea fit make market shake pass before. On June 24, Federal Reserve Chair Jerome Powell go give semi-annual talk for Congress dey face political wahala. Traders go dey watch weekly jobless claims wey dem expect say e go rise reach 247,000, plus Fed’s favorite inflation mark, Personal Consumption Expenditures (PCE) index, wey go drop for June 27, wey dem expect say e go increase from 2.1% go 2.3%. If PCE surprise for top side, e fit delay rate cuts, make dollar strong and press crypto prices. Meanwhile, the 90-day tariff pause wey go end July 9 and growing Iran wahala near Strait of Hormuz dey add inflation and geopolitical wahala. Crypto market dey under pressure: total capitalization drop 2.6% for 24 hours, with BTC down 4.9%, ETH 14%, XRP 8.3%, BNB 4.8%, SOL 14.7%, ADA 15.7%, DOGE 14%, TRX 1.6%, XLM 11.7%, and PI 16.3%. Traders suppose ready for price waka waka and adjust their position as duty-pause finish, Fed signals and global wahala meet.
Bearish
Di tin tok powell, di yawa we people nor get work dey increase, plus di pce data wey pass wetin dem expect fit make dem delay fed rate cut and make dollar strong—this kain tin dey usually make cryptocurrency price go down. Di tariff pause wey go expire and di wahala wey get to do with Iran oil dey add fresh inflation and geopolitical uncertainty, e go make market shake more short term and make main tokens dey under pressure. Traders go likely reduce how much risk dem dey carry before these tins happen, so e go make market get bearish look.