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Most Important XRP Level of 2025 Yet: Details

XRP at most important level this year so far NewsBTC

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3 Things That Could Impact Crypto Markets This Week

Crypto markets held on to gains made late last week over the weekend, and momentum could continue into the following days. There has been a small ‘Santa rally’ for stocks and crypto markets over the first few days of the year, with around $280 billion entering digital asset markets. This week will see the release of key employment figures along with consumer sentiment reports . “Labor market data is in the spotlight ahead of the January 29th Fed meeting,” commented the Kobeissi Letter. Economic Events Jan. 6 to 10 Monday will see the release of the S&P Global Services PMI (Purchasing Managers’ Index), while Tuesday has the ISM (Institute for Supply Management) Services PMI. These reports portray business conditions in the services sector and are leading economic indicators used by economists and analysts. The focus then switches to labor market data with the November JOLTS Job Openings report on Tuesday and December ADP Nonfarm Employment data on Wednesday. December’s Nonfarm Payrolls and Unemployment reports are due on Friday, and these present the number of new jobs created during the previous month, along with the percentage of people actively seeking employment. These two reports are important economic indicators as they track the shift in the number of positions that are strongly associated with the overall health of the economy. Key Events This Week: 1. S&P Global Services PMI data – Monday 2. November JOLTS Job Openings – Tuesday 3. December ADP Nonfarm Employment data – Wednesday 4. Fed Meeting Minutes – Wednesday 5. December Jobs Report – Friday 6. Total of 8 Fed Speaker Events Get ready for a… — The Kobeissi Letter (@KobeissiLetter) January 5, 2025 Friday also sees January’s Michigan Consumer Sentiment Index and Consumer Inflation Expectations preliminary readings. This data reveals the results of a monthly survey of consumer confidence levels and views of long-term inflation in the US. Additionally, the Q4 2024 earnings season will begin in earnest in mid-January. The Kobeissi Letter also cautioned that the “implications of China’s real estate collapse will spread well beyond real estate in China ” before adding, “As we head into 2025, we are positioning ourselves for more volatility in the market.” Crypto Market Outlook Crypto market capitalization has remained flat over the past 24 hours and was at $3.68 trillion at the time of writing. Bitcoin momentum was building steadily, with the asset hitting a ten-day high, topping $99,000 during early trading in Asia on Monday morning. The asset has now gained around 7.5% over the past seven days and it is on track to reclaim the psychological $100,000 level soon. #BTC Post-breakout Quarterly Retest and Trend Continuation confirmed $BTC #Crypto #Bitcoin https://t.co/T5fYyyybjH pic.twitter.com/geXSv4SYue — Rekt Capital (@rektcapital) January 5, 2025 Ethereum has mirrored the action with a similar weekly gain as it tapped $3,670 on Jan. 6, its highest price since Dec. 19. Most of the altcoins were flat on the day, having held on to weekend gains, and momentum appears set to continue this week. The post 3 Things That Could Impact Crypto Markets This Week appeared first on CryptoPotato . NewsBTC