This Week In Crypto: Key Economic Events And Tariff Announcements

Consumer Price Index report, Producer Price Index report and Retail sales data are among the key economic reports that will be announced this week. 

The cryptocurrency market entered the week on a bearish note, with Bitcoin briefly dipping below $95,000 then recovering to $97,000. However, altcoins have been hit harder than BTC and Ethereum. 

US President Donald Trump’s latest tariffs aluminium imports has sent ripples through the market.

“Any steel coming into the US is going to have a 25% tariff,” Trump said. A 10 February 2025 Associated Press report revealed that when asked about aluminium, he responded, “aluminium, too” will be subject to the trade penalties. “Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday” — meaning that the US would impose import duties on products in cases where another country has levied duties on US goods.”

Traditional and digital assets market reacted to this. Despite the declines, there is a lot to be optimistic about. Analysts are predicting potential bullish catalysts later this week. 

BREAKING:

🇯🇵 METAPLANET WILL BUY 21,000
BITCOIN WORTH $2 BILLION BY 2026.

WHALES KEEPS ON LOADING !! pic.twitter.com/2YfvenUWAS

— Ash Crypto (@Ashcryptoreal) February 10, 2025

Federal Reserve Chair Jerome Powell will deliver his semi-annual monetary policy testimony to Congress on Wednesday and Thursday. Powell’s remarks are expected to provide clarity on the Fed’s stance regarding interest rates and inflation. A dovish tone—indicating a willingness to ease monetary policy—could act as a tailwind for cryptocurrencies.

However, any hawkish signals emphasizing the need to combat inflation could trigger selling pressure in riskier assets like Bitcoin and altcoins.

Key Economic Events: CPI, PPI, Retail Sales Reports

The US economic calendar is packed with critical data releases this week.

Wednesday, 12 February 2025, Consumer Price Index (CPI) – The January CPI report is highly anticipated as it provides a snapshot of inflation from the consumer perspective. Economists forecast a slight dip in annual inflation to 2.8%, down from December’s 2.9%, while Core CPI is expected to hold steady at 3.3%. These figures will play a crucial role in shaping Federal Reserve policy, as they directly influence interest rate decisions. Lower-than-expected inflation could bolster Bitcoin and other digital assets by reducing the likelihood of tighter monetary policies.

Thursday, 13 February 2025, Producer Price Index (PPI) – The PPI report, which measures wholesale price changes, is another key indicator of inflationary pressures. Analysts expect a modest increase in PPI, signaling that input costs for producers are rising. This could have mixed implications for crypto markets, as higher production costs might stoke inflation fears but also highlight Bitcoin’s role as an inflation hedge. 

Friday, 14 February 2025 – Retail sales data will offer insights into consumer spending trends, a critical component of economic health. Strong retail sales often indicate higher disposable income, some of which could flow into speculative investments like cryptocurrencies. Conversely, weak sales could signal economic distress, potentially driving investors toward Bitcoin as a “safe haven” asset.

Explore: XRP vs XLM: Which is the Best Crypto to Buy? Will XRP Hit $3 in 2025?

Best Crypto to Buy?

If altcoins like XRP spike, the probability of emerging projects like the Best Wallet Token (BEST) rallying increases.

So far, the Best Wallet presale has raised over $9.4 million.

Interest in the project is due to its multi-chain capabilities and a simple-to-use user interface that simplifies DeFi, NFTs, and swaps.

The wallet has the “Upcoming Tokens” feature for token investors. Here, users can quickly discover high-potential presales before they launch on top exchanges.

If you buy the BEST token now, you can also stake and receive a 180% APY.

There are various ways to buy BEST, including ETH, USDT, and a card.

However, you must act fast.

BEST is trading for $$0.023925 but will rise in the next presale round.

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EXPLORE: $500 Million Worth Dubai Real Estate To Be Tokenized, MAG Group And Mantra Chain Join Forces

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