Crypto Markets Brace for Impact as 5 Key US Economic Indicators Loom

Crypto markets have much to look forward to this week, which marks the end of the first quarter (Q1). As Q2 commences on Tuesday, several US economic data will drive Bitcoin (BTC) and crypto sentiment this week.

Traders and investors will watch a slate of US economic data releases that could ripple through Bitcoin and altcoin prices.

5 US Economic Data To Watch This Week

These US macroeconomic indicators could drive volatility amid fresh insights into the health of the world’s largest economy.

US economic data with crypto implications this week. Source: MarketWatch

“Buckle up—volatility’s knocking. Right on time for the monthly shake-up,” a user on X quipped.

JOLTS

The first is the Job Openings and Labor Turnover Survey, or JOLTS, due for release on Tuesday, April 1. This report tracks available job vacancies in the US, effectively offering a window into employer confidence and labor market demand.

A strong showing, with openings exceeding recent trends of around 7.7 million, would suggest a strong economy. While this would strengthen the US dollar, it would dampen Bitcoin’s appeal as a hedge against weakness.

Conversely, a sharp drop in openings might stoke expectations of Federal Reserve rate cuts to bolster the economy. This outcome would lift risk assets like Bitcoin and crypto as investors seek alternatives to low-yield bonds.

ADP Employment

Adding to the list of US macroeconomic indicators this week is the ADP Employment report on Wednesday, April 2. This report will provide a private-sector payroll snapshot, serving as a preview of Friday’s main event.

There is a median forecast of 120,000 for March, following the previous month’s 77,000 reading. If job growth tops the consensus forecast, it could reinforce confidence in traditional markets, possibly pressuring crypto prices as the dollar gains ground.

On the other hand, a weaker-than-expected figure, say below 77,000, might hint at a slowdown. This would boost Bitcoin’s allure as a safe haven amid uncertainty. While not as authoritative as the official numbers, surprises here often set the tone for crypto traders adjusting their positions.

Liberation Day

Meanwhile, the stakes are high this week, with the US economy enduring uncertainties like Trump-era policies, including tariffs and government streamlining efforts. BeInCrypto reported on the upcoming Liberation Day, which is expected to bring new tariff announcements targeting nations imposing trade barriers.

“The last two months have already hurt American businesses and consumers, but the April 2 deadline seriously could make all of that look like a tempest in a teapot. We don’t know exactly what they’re going to do, but from what they’re saying, it sounds functionally like new tariffs on all US imports,” said Joseph Politano, economic policy analyst at Apricitas Economics.

Analysts predict extreme market volatility, with potential stock and crypto crashes reaching 10-15% if Trump enforces broad tariffs.

“April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen, “Alex Krüger predicted.

Initial Jobless Claims

On Thursday, April 3, crypto markets will watch the Initial Jobless Claims report, which shows the number of US citizens filing for unemployment insurance. Released weekly, this is a near-real-time pulse on layoffs and labor market stability.

Fewer claims, under the previous week’s 224,000 reading, could suggest resilience, supporting the dollar but tempering crypto enthusiasm. However, potentially exceeding the median forecast of 226,000 might raise red flags about economic health.

Such an outcome would drive demand for decentralized assets to hedge against potential turmoil. Given its weekly cadence, this report tends to spark quick reactions in the crypto market, especially when amplified by broader narratives like government efficiency cuts or tariff impacts in 2025.

US Employment Report

The week’s crescendo arrives Friday, April 4, with the US Employment Report, widely known as Non-Farm Payrolls. This comprehensive labor market update—including jobs added, the unemployment rate, and wage growth—is a linchpin for markets worldwide.

A strong report, higher than the previous reading of 151,000 jobs and a steady 4.1% unemployment rate, could bolster faith in the economy. This could curb crypto gains if the dollar rallies.

However, strong wage growth exceeding 0.3% month-over-month (MoM) might rekindle inflation fears, indirectly supporting Bitcoin as a store of value.

Conversely, a disappointing tally—under the median forecast of 140,000 jobs with unemployment ticking beyond 4.1%—could ignite recession worries. This would send investors flocking to Bitcoin and crypto.

Significant deviations from consensus forecasts, often by 50,000 jobs or more, have historically triggered sharp Bitcoin moves of 1-2% or greater.

“BofA [Bank of America] Securities expects a pickup in job growth for March. Keep an eye on those numbers,” crypto researcher Orlando noted.

For crypto market participants, the game plan is clear: track consensus estimates on economic calendars, watch real-time reactions, and brace for swings. Nevertheless, this week’s data could dictate Bitcoin’s next move in Q2 2025, particularly in April.

Fed Chair Jerome Powell will also address the economic outlook at the SABEW Annual Conference on Friday at 11:25 a.m. EST.

Bitcoin (BTC) Price Performance. Source: BeInCrypto

BeInCrypto data shows BTC was trading for $82,192 as of this writing, down by over 1% in the last 24 hours.