Bitcoin News

Bitcoin News: Major Events That Will Impact BTC Price This Week

Bitcoin News: Bitcoin price trades sideways as traders await major macro events that will impact the crypto market this week.
Published by
Bitcoin News: Major Events That Will Impact BTC Price This Week

Bitcoin News: With Bitcoin price stuck near $22,300 since the massive liquidation on Friday, traders face difficulty deciding their next move amid the U.S. regulatory crackdown on crypto. Other cryptocurrencies, including Ethereum, are trading without any significant direction.

BTC price fell 0.27% in the last 24 hours, with the price currently trading at $22,372. The 24-hour low and high are $22,331 and $22,497, respectively. Furthermore, the trading volume is up 2% in the last 24 hours, indicating a lack of interest among traders.

Meanwhile, global traditional markets are strong and surging higher as oil prices and 10-year treasury yields continue to fall. In fact, the crypto market and the U.S. stock market correlation is also weakening. U.S. futures linked to major stock indices Dow Jones Industrial Average, S&P 500, and Nasdaq Composite are currently green.

The U.S. Dollar Index (DXY) has also fallen below 104.50, but the crypto market hasn’t responded. A further decline in DXY can bring recovery into the crypto market.

Advertisement

Bitcoin News: Key Events To Watch This Week

The macro events haven’t impacted the Bitcoin price in the last 3-4 days, but traders await key events that can further push prices downwards.

On March 7 and 8, U.S. Federal Reserve Chair Jerome Powell will deliver semi-annual monetary policy testimony before the Senate and House of Representatives Financial Committees. Investors await this key event for further guidance on the Fed rate hike plans. Several Fed officials have hinted that a 50 bps hike is still on the table for the rate hike decision on March 22.

On March 9, China will announce the CPI inflation data. The inflation rose to 2.1% in January from 1.8% in December. Meanwhile, the Chinese government sets its 2023 GDP growth target at around 5%, lower than last year’s target of 5.5%.

On March 10, the Bank of Japan will announce its interest rate decision. Also, the U.S. Bureau of Labor Statistics will release the jobs data. The market expectation for February non-farm payrolls is 200K, previously it came much higher at 517K. Moreover, the February unemployment rate is expected at 3.4%, it fell to 3.3% in January against market forecasts of 3.6%.

Also Read: Binance Once Planned to Evade US Scrutiny, New Texts and Documents Confirm

Advertisement

Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Pump.fun Rival Zora Rallies Over 30% Following Robinhood Listing

Zora, Coinbase-based creator economy platform, has been listed on Robinhood. This also highlights its increased…

October 9, 2025
  • 24/7 Cryptocurrency News

Peter Brandt Lists XRP Among Shorts Amid Crypto Market Crash

Veteran trader Peter Brandt has doubled down on his bearish XRP prediction. This time, he…

October 9, 2025
  • 24/7 Cryptocurrency News

Fed’s John Williams Backs More Rate Cuts This Year Amid Labor Market Concerns

New York Fed President John Williams has shown his support for additional Fed rate cuts…

October 9, 2025
  • Bitcoin News

Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy

The Bitcoin price is up today, after a significant drop in the last 24 hours.…

October 9, 2025
  • 24/7 Cryptocurrency News

Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH

Flare Network has recorded over $43 million worth of XRP now bridged onto its blockchain.…

October 9, 2025
  • Bitcoin News

Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech

Bitcoin and Ethereum are dragging lower amid massive volatility ahead of Fed Chair Jerome Powell's…

October 9, 2025