The upcoming week brings three significant tests. Firstly, the release of April jobs data, which will be the first payrolls print following the 2025 federal shutdown delay, is expected to influence the Federal Reserve's decision on interest rates. A weaker-than-expected jobs report could prompt the Fed to cut rates sooner, while a strong report may lead to a delay. Secondly, investors will be watching for additional insights into the bitcoin treasury trade as several major companies, including Strategy, Coinbase, MARA, CleanSpark, Hut 8, and Core Scientific, report their Q1 earnings.
Notably, Riot has already sold 3,778 BTC at an average price of $76,626, while MARA sold 15,133 BTC. The third key event is the Federal Reserve itself, with San Francisco Fed CEO Mary Daly and Chicago Fed President Austan Goolsbee discussing central bank independence, coinciding with Jerome Powell's exit as Fed Chair. According to Jennifer Hanny, a partner at Echo Base, 'investors are not heavily positioned, and volatility is low, creating an asymmetrical setup where markets appear stable but could react quickly to any catalyst that forces a repricing of risk.' Key events to watch include token events and conferences.