The price of Bitcoin (BTC) remains above $107,000 at the start of a key week marked by events and the release of macroeconomic data that could shape investor sentiment in the short term.
The action begins Tuesday, when Federal Reserve Chairman Jerome Powell participates in a panel at the European Central Bank's forum, along with central bankers from the United Kingdom, South Korea, and Japan. If Powell signals a loosening of monetary policy , it could have a positive impact on assets considered "risky," such as bitcoin and cryptocurrencies.
Additionally, key U.S. labor market indicators will be released Tuesday, including the June manufacturing index from the Institute for Supply Management (ISM) and May data from the Job Openings and Labor Turnover Survey (JOLTS).
Meanwhile, nonfarm payrolls data for June will be released on Wednesday, while the official employment report for the same month will be released on Thursday. It's worth noting that labor market figures from the leading financial power tend to capture investors' attention, as they anticipate possible Fed policy moves.
In the past, a weakening in this sector has raised concerns about the health of the economy and led to market declines, while a strengthening has had the opposite effect.
In any case, days of high volatility are coming for the price of BTC, which began Monday approaching $107,400, 3.8% below its all-time high (ATH) of $111,900. Meanwhile, investors are closely monitoring the development of the "tariff war" unleashed by US President Donald Trump. The president ordered a suspension of import taxes until July 9.
White House officials said the measure could be extended, but clarified that it is a decision President Trump will make. An extension of the tariff suspension will be a positive sign for the markets, as it will reduce geopolitical tensions and economic uncertainty, factors that positively impact risky assets. If Trump changes his stance and decides to end the truce, this will put downward pressure on BTC and cryptocurrencies.
This is because financial speculators prefer a stable macroeconomic environment to invest in risky assets. Otherwise, when there is economic uncertainty, they tend to place their holdings in financial instruments, such as Treasury bonds, which generate lower returns but are not exposed to market volatility.
However, several specialists and international monetary organizations are beginning to recognize that something doesn't quite fit with the global picture. For Agustín Carstens, general manager of the Bank for International Settlements (BIS), the tariff policy implies that the global economy is facing "difficult times in uncharted waters." In other words, traditional frameworks are no longer sufficient to interpret the current situation, in which geopolitical tensions and structural distortions are disrupting the normal functioning of the economy.
