Opinion: Market volatility could increase if this week's PCE data deviates from expectations

Crypto markets showed signs of recovery over the weekend, but the U.S.’s busy economic schedule this week could re-energize the bear market, CryptoPotato reported. The Fed's key inflation gauge, which could influence future monetary policy, will be in focus.

Macroeconomic media Kobeissi Letter highlights the key events of the week. Key events this week include: March new home sales data (Tuesday), durable goods orders data (Wednesday), U.S. first quarter 2024 GDP data (Thursday), March pending home sales data (Thursday), March Monthly PCE inflation data (Friday). Additionally, approximately 20% of SP 500 companies will report quarterly results this week.

The total crypto market capitalization returned to and remained at the $2.5 trillion level over the weekend, with Bitcoin leading the market following its fourth halving event. Ethereum recovered back to $3,200 and is trading at $3,225 after a slight correction. Altcoins such as LINK, NEAR, and DOT were also mostly in the green on Monday morning. Market volatility could increase if the PCE data later this week deviates from expectations.