As each week unfolds, new developments continue to shape the trajectory of cryptocurrencies, notably impacting Bitcoin, which experienced lateral movement on January 18th. The trading volumes have noticeably declined compared to the week before. However, significant upcoming events are likely to steer the direction of the cryptocurrency market. Let’s delve into this week’s calendar and take a closer look at the pivotal developments in the crypto space.
This Week in Cryptocurrency
One of the most anticipated events of the week is the decision from the High Court regarding the tariff ruling, expected to be announced on Friday with at least one decision disclosed on January 20th. The specific nature of the announcement remains uncertain, expected around 18:00 Turkish Standard Time. A range of additional developments is on the horizon.
Here’s the detailed schedule for the cryptocurrency events marked for this week:
On January 19, Monday, the focus will shift to the IMF World Economic Outlook Press Conference at 12:30. Following closely at 13:00, the Eurozone Annual Consumer Price Index is expected to be released, with previous and predicted estimates at 2%.
January 20, Tuesday, will see the beginning of the Davos Conference, extending throughout the week. Notably, the High Court Tariff Decision is anticipated by 18:00, alongside the results of the Injective IIP-617 Deflation Vote, and a ZRO token lock will unlock 6.36% of its supply.
January 21, Wednesday, will feature earnings reports from Netflix at 00:43 and Charles Schwab at 15:40.
On January 22, Thursday, the CBRT Interest Rate Decision at 14:00 is under scrutiny, with expectations at 36.5%. At 15:30, ECB Meeting Minutes will be revealed, followed by U.S. Initial Jobless Claims at 16:30, where market expectations are at 215K compared to a previous 198K. The U.S. GDP growth on a quarterly basis, and PCE figures, both expected to maintain their previous rates, will also be monitored closely. Stellar‘s Protocol X-Ray is another event on the radar, as it aims to simplify zero-knowledge applications. Voting on OP Coin Buyback Proposal and the UDS token lock opening 1.43% of its supply are additional events worth noting.
On January 23, Friday, Japan’s CPI, expected at 2.1% from a previous 2.9%, will be a crucial indicator, accompanied by the BoJ Outlook Report and Interest Rate Decision, holding steady at 0.75%, all at 06:30.
January 24, Saturday, sees the Bitcoin Cash Meetup.
On January 25, Sunday, token unlocks for XPL and Humanity (H) are scheduled, releasing 4.33% and 4.57% of their respective supplies.
Key Insights
Davos statements could encapsulate major insights across the global economic stage, significantly impacting the cryptocurrency domain. On Thursday, the U.S. PCE numbers, an inflation indicator closely monitored by the Fed, will be crucial for assessing Powell’s tone in the forthcoming interest rate decision on January 28th. BoJ’s announcements on Friday warrant close scrutiny due to their potential to reignite carry trade discussions with any further interest rate hikes.
The anticipated tariff decision announcement by the High Court on Tuesday is poised to significantly amplify volatility within the cryptocurrency market.