Key takeaways:
A week full of US macroeconomic reports could impact Bitcoin traders’ sentiment.
Bitcoin’s rally could stall if there’s a sharp reduction in spot buy volumes.
If PCE, the ISM PMI, and jobs data align with market expectations, BTC could rally.
Bitcoin (BTC) price could face a period of range-bound trading after managing a 10.37% rally over the past 7 days. Robust spot purchasing demand from Strategy, the spot BTC ETFs, and announcements from 21Shares and Coinbase played a role in Bitcoin’s rally to $95,700. With the exception of the April 28 announcement of a $1.42 billion BTC purchase from Strategy, a quiet week on the crypto news front could translate to a reduction in spot demand and lower support tests from Bitcoin price.
This week is also event-filled on the macroeconomic data reporting side. On April 29, the