Trump’s Crypto Reserve vs. US Data: Will This Week’s News Drive Bitcoin?
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Predictions Markets
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- US economic data this week could influence crypto market sentiment and Bitcoin prices.
- Manufacturing PMI, tariffs, and employment reports could impact Bitcoin’s market appeal.
- White House Crypto Summit on March 7 may shape future US digital asset policies.
This week, several important U.S. economic events may affect the crypto market. After a change in sentiment sparked by President Donald Trump’s executive action to commission a crypto strategic reserve, market players and investors keep a close eye on economic data releases.
Manufacturing PMI – March 3
The first figure to watch is the S&P Global Manufacturing Purchasing Managers Index (PMI), released on March 3. This gauge measures activity in the US manufacturing sector and reveals how the economy might hold up.
A reading above 50 signals growth, a plus for the US dollar (USD), and could reduce Bitcoin’s appeal as a hedge. A reading below 50 shows contraction, which may boost demand for digital assets among investors seeking alternate safe options.
Tariff Deadline for Mexico and Canada – March 4
On March 4, the US plans to impose tariffs on goods from Mexico and Canada. However, …
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