Four key U.S. economic data releases this week will dominate Bitcoin's trend, and the crypto market may experience significant volatility.

This week, Bitcoin traders are facing a dense schedule of U.S. economic data and policy events, including the FOMC rate decision, Federal Reserve Chair Powell’s speech, JOLTS job openings, and initial jobless claims—four key indicators. These data points will directly influence market sentiment and determine the next direction for Bitcoin.

The FOMC rate decision, seen as the most impactful event for the crypto market this week, will be announced on Wednesday. CME data currently shows the market expects an 87% probability of a rate cut. Easing policies are generally bullish for Bitcoin. After recent weekend volatility, Bitcoin has remained steady above $90,000, indicating resilient buying demand. However, the market widely believes that the Fed’s forward guidance will have a greater impact than the rate cut itself.

Following the decision, Fed Chair Powell will elaborate on future policy, inflation, and the economic outlook during a press conference. Analysts caution that even if a rate cut is delivered, any hawkish signals from Powell could suppress Bitcoin’s short-term performance.

Tuesday’s October JOLTS job openings data is expected to come in at 7.2 million, unchanged from the previous month. A strong labor market means limited room for rate cuts, which could cap Bitcoin’s upside. Thursday’s initial jobless claims are expected to rise to 220,000; if the data deviates significantly from expectations, it could trigger market repricing and notable volatility.

Employment data has a dual impact on Bitcoin—strong economic performance boosts risk appetite but may reduce expectations for policy easing; weak data could prompt rate cuts but also increase risk-off sentiment, weighing on the crypto market.

Technically, $86,000 remains a key support level; a break below this could trigger a drop toward $80,000. On the upside, if Bitcoin reclaims $92,000, it could aim for the $100,000 milestone.

Additionally, several Fed officials are scheduled to speak on Friday, which could further influence market interpretation of policy and keep Bitcoin volatility elevated beyond Wednesday. This week’s flurry of economic data releases is expected to spark significant market moves and could determine Bitcoin’s overall trend for December. (BeinCrypto)