Analysis: Three U.S. economic indicators that may shake the Crypto Assets market this week.

According to TapChiBitcoin, against the backdrop of heightened geopolitical tensions, three key economic indicators in the United States could have a profound impact on the portfolios of cryptocurrency traders and investors. With the price of Bitcoin volatile over the weekend, its potential impact has also become more worrisome. Traders who are expecting significant volatility can keep an eye on the major economic events in the United States that are taking place this week.

Bloomberg surveillance co-host Lisa Abramowicz stated that the U.S. economic surprise index has fallen to its most negative level this year, with a series of economic indicators weaker than analysts' initial forecasts.

This index is known as a key indicator of economic surprises, showing that the difficulties faced by the U.S. economy are greater than expected. Against this backdrop, the following economic indicators this week may have a strong impact on Bitcoin, especially in the context of ongoing geopolitical tensions in the Middle East.

Testimony of Federal Reserve Chairman Powell

On June 24, Federal Reserve Chairman Powell will testify before the House Financial Services Committee as part of his semiannual monetary policy report to Congress.

During the hearing, Powell will present the latest information on the U.S. economy, monetary policy, inflation, the labor market, and other key economic factors. This is an opportunity for lawmakers to ask questions, and the Q&A session may have a direct impact on financial markets, especially as investors seek to understand the Federal Reserve's future direction.

Under the tense geopolitical situation in the Middle East, Powell's testimony is particularly important, especially after Iran closed the Strait of Hormuz, which has raised concerns about disruptions in the global energy supply chain. Such actions could put immense pressure on the global economy, especially when inflation is still not under control. If Powell makes strong statements claiming that high interest rates are needed to curb inflation, this may have a negative impact on Bitcoin prices, leading to a decline in its price, similar to when the Sino-U.S. trade tensions disrupted financial markets in April 2025.

Conversely, if he makes dovish remarks suggesting interest rate cuts, it may stimulate the growth of Bitcoin.

Chairman Powell's Testimony – Home Prices and Personal Consumption Expenditures (PCE) Inflation: While geopolitical tensions in the Middle East remain key factors, macroeconomic indicators such as inflation and house prices will still dominate market sentiment as they will be the focus of market attention. Investors will focus on domestic economic factors such as PCE inflation and the housing market to assess the Federal Reserve's monetary policy and its subsequent impact on assets such as Bitcoin. However, if the situation in the Middle East develops further, the market may quickly regain activity," said market expert Peter Tarr.

U.S. Initial Jobless Claims

In addition to Powell's testimony, the crypto assets market is also closely following the initial jobless claims, which are a key indicator of the health of the US labor market. When signs of weakness appear in the labor market, it will become a major macro factor that has a significant impact on Bitcoin.

As of the week ending June 14, the number of first-time applicants for unemployment benefits in the United States reached 245,000, exceeding analysts' expectations and hitting the highest level since October last year. However, due to the ongoing uncertainty in the economic situation, experts predict that the number of unemployment benefit claims will continue to rise, with a median forecast of 248,000.

If the number of unemployment benefit applications continues to rise, it may reflect economic weakness, thereby intensifying expectations that the Federal Reserve will have to cut interest rates to support the economy. In this scenario, as traders look for alternative investment opportunities against the backdrop of declining interest rates and turn to higher-risk assets, Bitcoin may benefit.

On the contrary, if the number of unemployment benefit applications is lower than expected, this could strengthen the dollar and put pressure on Bitcoin and other crypto assets, especially in a context where safe-haven sentiment remains strong due to geopolitical tensions in the Middle East.

Personal Consumption Expenditures (PCE) Index

This week, one of the key economic indicators that has a significant impact on the Crypto Assets market is the Personal Consumption Expenditures (PCE) index. This is a macro indicator used to measure the average changes in prices for goods and services consumed by American households, and it is particularly favored by the Federal Reserve as an inflation indicator because it covers a wide range and is able to reflect consumer substitution in the face of price changes.

In April, the personal consumption expenditure index rose by 2.1% year-on-year, with the core personal consumption expenditure index (excluding food and energy) rising by 2.5%. Economists previously predicted that the personal consumption expenditure index would rise by 2.3% in May, while the core personal consumption expenditure index might rise by 2.6%.

If the PCE index exceeds expectations and shows persistent inflation, this may boost the dollar and put pressure on Bitcoin prices, especially against the backdrop of escalating tensions in the Middle East. High inflation may prompt the Federal Reserve to maintain or raise interest rates, which is unfavorable for risk assets such as Crypto Assets.

On the contrary, if the PCE index is lower than expected, this may create opportunities for Bitcoin, as investors hope for a Federal Reserve rate cut, which could strengthen the position of crypto assets in the context of a weak economy or increased demand for low-risk assets.

Overall, U.S. macroeconomic indicators will continue to be a decisive factor in determining the direction of the Crypto Assets market. Investors need to closely follow the important developments this week to formulate reasonable trading strategies.