4 Things That Could Move Bitcoin and Crypto Markets This Week

A busy week awaits on the US economic calendar as markets continue to reel from the war in the Middle East and global fuel shortages.

Crypto markets are back in the red this Monday morning in Asia as fear, uncertainty, and doubt return to the space.

Additionally, US stock market futures are open as markets react to President Trump’s “48-hour deadline” for Iran to open the Strait of Hormuz.

Next week includes key inflation and labor market data releases, and now there are talks of an interest rate hike amid the threat of inflation caused by the oil crisis and fuel shortages.

WTI crude fell below $100 at the time of writing, but Brent crude was still around $112 per barrel.

Economic Events March 23 to 27

The purchasing managers’ index (PMI) for March is out on Wednesday, providing an important gauge of how the ongoing war has affected business sentiment and action.

“This is important because it is one of the first economic indicators we will get covering the period since the conflict began,” Deutsche Bank economists said in a paper, according to the WSJ.

Thursday will see the first report on jobless claims, an important indicator of the health of the labor market and one of the Federal Reserve’s two main policy-making responsibilities.

“That’s why we still feel the Fed is more likely to cut rates than raise them,” ING economist James Knightley wrote in a note.

Friday brings the March MI Consumer Sentiment and Inflation Expectations report, which sheds more light on general economic conditions.

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Important Events this week:

1. Markets React to Trump’s “48-Hour Warning” to Iran – Today at 6 PM ET

2. March S&P Global Services PMI data – Tuesday

3. US Crude Oil Inventory data – Wednesday

4. Initial Unemployment Claims Data – Thursday

5. March MI Consumer Sentiment Data – Friday

6.…

— The Kobeissi Letter (@KobeissiLetter) March 22, 2026

Consumers are likely to be hit hard by rising oil prices, Ryan Sweet, global economist at Oxford Economics, told CBS News over the weekend.

“To put it in perspective, every increase in gas prices reduces consumer spending by a billion and a half dollars over the course of a year,” he said.

Inflationary pressures and strong wallets tend to be bearish on high-risk assets like crypto.

Crypto Markets Retreat

This can be seen in the ongoing bear market, with many digital assets erasing the gains of last week’s rally over the weekend.

Total capitalization was down 1.3% on the day to $2.42 trillion at the time of writing in Monday morning trading in Asia.

Bitcoin dropped below $68,000 on Sunday but recovered just above that on Monday morning. However, increasing economic pressure may send you down.

Ether prices are equally weak, with the asset falling to $2,033 before a minor recovery. ETH is unlikely to stay above $2,000 this week.

Altcoins are in the red again, with heavy losses for XRP, Cardano, Hyperliquid, and Stellar.