Bitcoin and the crypto market rebounded on Friday after Jerome Powell’s dovish statement. Ethereum jumped to an all-time high, continuing a surge that started in April when it bottomed at $1,350. This article looks at the top catalysts for Bitcoin and the cryptocurrency market this week.

NVIDIA earnings

The most important catalyst for the stock and crypto market this week will be the NVIDIA earnings on Wednesday. These numbers will be particularly important because it is the largest company in the world and a major beneficiary of the artificial intelligence industry.

Therefore, strong results will hint that the industry is doing well and push the stock and crypto markets higher. Analysts predict that NVDIA’s revenue will be a whopping $46 billion, 53% jump from last year. One analyst sees the number being $52 billion. 

There are other notable companies that will publish their results this week, including CrowdStrike, Dell, and Marvell Technologies. 

US PCE report to impact crypto market

Bitcoin and the cryptocurrency market will react to the upcoming Personal Consumption Expenditure (PCE) report on Thursday. This is a crucial number that provides information on price movements on goods and services in the urban and rural areas. This differs from the Consumer Price Index (CPI), which looks at the prices in urban areas.

The Bureau of Labor Statistics (BLS) will publish the latest PCE report on Friday. Economists expect the data to show that the core PCE rose 0.3% in July, translating to a YoY gain of 2.8%. 

The agency will also release the personal income and spending data. This report, together with the August inflation and nonfarm payrolls (NFP) data, will influence the next actions of the Federal Reserve. 

The other top macro data to watch this week will be GDP, consumer confidence, and the durable goods report.

Read more: Top cryptocurrencies to watch this week: Pi Coin, Avalanche, Polkadot

Top crypto unlocks this week

Crypto unlocks are important because they introduce more tokens to the market. Historically, these unlocks have been bearish because they increase supply when there is limited demand. 

Pi Network will continue its daily unlocks by releasing 49 million tokens in the market. This will not be a surprise since Pi is known for its huge unlocks that will continue for years. 

Axelar will be the other major crypto to have an unlock this week. It will unlock tokens worth $5 million, representing 1.5% of the float. Ronin, one of the top players in gaming, will also unlock tokens worth $10 million.

The biggest unlocks will come from Optimism (OP) and RedStone, which will unlock $25 million and $16.5 million. 

Read more: Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

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