U.S. Economic Data This Week May Drive Crypto Market Volatility; Fed Decision and Jobs Report Key

Gate News message, April 27 — The crypto market slipped 0.5% to $2.59 trillion as investors braced for several major U.S. economic releases this week that could shape Bitcoin and altcoin price direction. Bitcoin traded near $77,800, while the Crypto Fear & Greed Index has recently moved toward the mid-40s range according to market data, showing mixed sentiment despite recent gains.

Key events include April Consumer Confidence data on April 28, the Federal Reserve's interest-rate decision and Jerome Powell's press conference on April 29 (Powell's term as Fed Chair expires May 15), Initial Jobless Claims and PCE inflation data on April 30, and April ISM Manufacturing PMI on May 1. The Fed is widely expected to hold rates unchanged at 3.50%–3.75% for a second straight meeting. Consumer Confidence is forecast to drop to 89.4 from 91.8 in March, jobless claims are expected to ease slightly from 214,000, and PCE inflation is seen near 2.8%.

The market backdrop remains supportive: last week, crypto rallied over 6%, with Bitcoin nearing $80K and major altcoins gaining 4%–5%. Spot Bitcoin ETFs recorded eight consecutive days of inflows totaling $2.43 billion in April, nearly double March's $1.32 billion, signaling sustained institutional buying despite retail caution. Market participants are closely watching how this week's economic data releases may influence Federal Reserve policy expectations and crypto market direction.