Cryptocurrency markets have been battered over the past week, but began to show signs of recovery during Monday morning trading in Asia.
But with another busy economic week ahead, and rising political tensions in the Middle East, investors may flee to safe havens.
Markets are also keeping an eye on financial results, with this week's announcements spanning various sectors of the economy, including banking and financials.
next week
On Monday, U.S. retail sales statistics for March will be released, which could influence the Federal Reserve's monetary policy. Recent better-than-expected inflation data has heightened concerns that the Fed will keep interest rates on hold for an extended period of time.
Industrial production and manufacturing data are also expected to be released this week, which could shed light on the broader health of the economy.
An unexpected rise in jobless claims could impact purchasing power on Thursday, forecasters said.
There will be a total of 13 Federal Reserve speeches this week, including Chairman Jerome Powell's appearance on Tuesday. Investors are paying close attention to these signals of changes in monetary policy.
This week is also an important week for first-quarter corporate earnings reports, with all eyes on the banking sector. Notable earnings reports are expected to be released by Goldman Sachs, Bank of America, and Morgan Stanley, with a number of smaller banks being the most notable.
The Middle East conflict continues to attract attention as prices of primary products such as crude oil and gold come under upward pressure.
Furthermore, China's economy will also be in the spotlight, with Q1 GDP statistics to be released on Tuesday likely to impact demand for risk assets such as BTC.
Cryptocurrency market recovers
The cryptocurrency market fell over the weekend to its lowest level since early March, with total market capitalization falling to $2.41 trillion.
However, there was some recovery on Monday morning, with the total cap increasing by 3.5% on that day to $2.48 trillion.
Bitcoin bounced off the $62,000 support and returned to $65,000 at the time of writing, less than a week until the halving. However, it is currently down 12% from its all-time high in mid-March.
Ethereum price fell below $3,000 on Sunday, but quickly recovered to reach $3,150 during Asian trading on Monday.
While most altcoins have recovered, nearly all have fallen by double digits over the past week.