3 US Economic Signals That Could Move Bitcoin This Week
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Author: Lockridge Okoth
Updated: July 21, 2025, 07:00 GMT (by Ann Maria Shibu)
Source: BeInCrypto BeInCrypto+7BeInCrypto+7BeInCrypto+7
🔹 Highlights
Powell speech at the Banking Conference may hint at interest rate direction.
Jobless claims are projected to rise to 229,000—higher claims could boost Bitcoin as a hedge.
PMI reports (services & manufacturing) may sway sentiment; softer data could favor Bitcoin over traditional markets.
📌 Detailed Breakdown
1. Fed Chair Powell’s Remarks
Scheduled for Tuesday, Powell’s speech follows June CPI data showing 2.7% YoY inflation.
Ahead of the July 30 FOMC meeting, markets are pricing in a ~95% chance of no rate change.
Political pressure mounts: rumors suggest the Trump administration is pushing Powell to resign if he refuses to cut rates—such a disruption could be bullish for Bitcoin BeInCrypto+4BeInCrypto+4BeInCrypto+4.
2. Initial Jobless Claims
The week ending July 12 recorded 221,000 claims.
Economists expect 229,000 for the week ending July 19.
A surprise increase could signal labor weakness and drive investors toward Bitcoin, while a drop would favor the dollar and undermine crypto BeInCrypto+8BeInCrypto+8BeInCrypto+8.
3. S&P Flash PMIs
Services PMI was at 52.9 in June (down from 53.7), manufacturing PMI also at 52.9.
Forecasts suggest July services PMI around 53.2 with manufacturing slightly above 52.4.
Softer readings often boost Bitcoin by fueling rate-cut hopes; stronger numbers lean toward traditional marketsBeInCrypto+2BeInCrypto+2BeInCrypto+2.
📈 Current Bitcoin Landscape
Bitcoin is trading near $118,286, up ~0.35% over the past 24 hours.
Meanwhile, BTC dominance is declining, with miners and whales selling—factors likely to add volatility this week BeInCrypto+3BeInCrypto+3BeInCrypto+3.
✅ Suggested CMS Structure
Headline: 3 US Economic Signals That Could Move Bitcoin This Week
Lead: Fed speech, jobless claims, and PMI reports may trigger Bitcoin volatility amid macroeconomic shifts.
Sections: Powell’s Speech, Jobless Claims, PMI Reaction, Current BTC Outlook
Tags: Bitcoin, US economic data, Fed, jobless claims, PMI, macroeconomics, crypto volatility