Major Macroeconomic Events This Week Could Shift Bitcoin's Trend

This week, five significant macroeconomic events are poised to influence Bitcoin's trajectory. On June 9, a meeting between the US and China in London to discuss tariffs and semiconductors could be positive for Bitcoin if it results in favorable outcomes; however, any tensions or noise might bolster the US dollar and put downward pressure on cryptocurrencies. On June 11, the release of the US Consumer Price Index (CPI) will be critical; high inflation could prompt the Federal Reserve to tighten monetary policy, potentially exerting negative effects on Bitcoin. The following day, June 12, the US Producer Price Index (PPI) will be published; elevated PPI may heighten fears of monetary tightening, while lower PPI might ease market concerns and support Bitcoin's rise. Also on June 12, initial unemployment claims in the US could influence Bitcoin; increased claims might drive investors toward alternative assets like Bitcoin, whereas a decline could reduce such demand. Lastly, on June 13, consumer sentiment and inflation expectations from the University of Michigan could sway Bitcoin’s perception as a hedge—negative sentiment may boost Bitcoin's appeal, while optimism could dampen it.