After eight consecutive red daily candlesticks, the Bitcoin price ended the day yesterday (Sunday) with a green daily candle. The Bitcoin and crypto market is entering a week that, while not a macro blockbuster week, could still be trend-setting for the crypto market. Friday in particular could once again be the most important day of the week.
Last week, the US Dollar Index (DXY) bounced up from a historically important support level, putting significant pressure on the Bitcoin and crypto markets. Weaker-than-expected consumer expectations, waning US consumer confidence and sticky core inflation boosted the DXY, which will remain a key focus this week.
Key Dates For Bitcoin And Crypto This Week
On Tuesday 16th at 8:30 am EST, the US Census Bureau will release the final figures for US Retail Sales for the month of April. The final figure for March was -0.6%, well below the forecast of -0.4%. For April, consumer sentiment is forecast to rebound by 0.7%.
Strong consumer spending is seen a
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