Bitcoin price consolidation likely as US Core PCE, manufacturing, and jobs reports print this week
Bitcoin (BTC) price experienced a 10.37% rally over the past week, reaching $95,700, driven by strong spot purchasing demand from Strategy and announcements from 21Shares and Coinbase. A quiet week in crypto news, aside from a significant $1.42 billion BTC purchase announcement, may lead to reduced spot demand and lower support for Bitcoin. Upcoming macroeconomic reports include the Job Openings and Labor Turnover Survey (JOLTS) on April 29, the jobs report on May 2, and the Core PCE forecast on April 30, which could indicate shifts in US inflation. The ISM Manufacturing PMI data will be released on May 1, reflecting business concerns amid the US-led tariff war. Traders are likely to adopt a cautious approach due to recent market volatility, suggesting Bitcoin may consolidate between $93,000 and $95,500. As of now, Bitcoin trades slightly below $95,000.
