The cryptocurrency market enters a week marked by significant macroeconomic data releases and key altcoin-specific events, all set against a backdrop of anticipated low holiday liquidity. Bitcoin (BTC) is coming off a volatile week where it struggled to maintain momentum above $90,000, closing down approximately 0.5%. Pressure has stemmed from factors including early whale selling, discussions on quantum computing risks, and broader macroeconomic uncertainty.
The week's calendar is front-loaded with high-impact U.S. economic indicators. On Monday, December 22, the market will focus on the Core Personal Consumption Expenditures (PCE) Price Index data for October, the Federal Reserve's preferred inflation gauge. Monthly and annual figures are expected at 0.2% and 2.8%, respectively. Tuesday, December 23, brings the U.S. Gross Domestic Product (GDP) growth rate for the third quarter, with an expectation of 3.2%, down from the previous 3.8%.
Wednesday, December 24, sees U.S. markets closing early for Christmas, with the weekly Initial Jobless Claims data serving as a potential short-term volatility catalyst. Markets are fully closed on Thursday, December 25, for Christmas Day, leading to significantly reduced liquidity which could amplify any price movements from earlier data surprises.
Alongside these macro developments, several altcoin events are scheduled. A critical vote on Uniswap's proposal to burn 100 million UNI tokens concludes on Thursday, December 25. On Saturday, December 27, LayerZero will conclude its third fee switch vote for ZRO; if passed, proceeds will be used for ZRO token buybacks and burning. Furthermore, the Irys chain's airdrop distribution is ending, and a massive $23 billion in Bitcoin options is set to expire on Friday, December 26, which could further heighten market volatility.
