This week, several important U.S. economic events may affect the crypto market

This week, several important U.S. economic events may affect the crypto market. After a change in sentiment sparked by President Donald Trump's executive action

This week, several key U.S. economic events may impact the crypto market. After a shift in sentiment following President Donald Trump’s executive action to mandate a crypto strategic reserve, market players and investors are closely monitoring economic data to gauge the health of the world’s largest economy.

While the focus remains on the Federal Reserve’s interest rate decision, several other events could affect market sentiment.

Non-farm payrolls are expected to rise by 160,000 in February, slowing from the previous month’s reading of 151,000. Economists polled by Dow Jones anticipate a smaller increase of 143,000.

If those numbers are hit or better, the bulls could push for a 1-2% gain, especially with tech stocks remaining high and a belief in a soft landing.

However, if non-farm payrolls miss badly—coming in below 100,000—and unemployment rises unexpectedly, a 3-5% correction in the S&P 500 could occur.

Here are some events to watch this week:

Manufacturing PMI – March 3

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) for February, released on March 3, is expected to show a slight improvement from the previous month’s reading of 49.2.

Any reading above 50 indicates an expansion in the sector, which could be a plus for the U.S. dollar (USD) and may reduce Bitcoin’s appeal as a hedge.

A reading below 50, on the other hand, suggests a contraction and could increase demand for digital assets among investors seeking alternative safe options.

Tariff Deadline for Mexico and Canada – March 4

On March 4, the U.S. plans to impose tariffs on goods from Mexico and Canada. However, there is some confusion about the specifics.

President Trump recently hinted at the possibility of making changes to the 25% tariff that was initially planned.

While the exact rate is still in flux, any trade-based economic fallout might influence risk assets, including Bitcoin.

ADP Employment Report – March 5

The ADP National Employment Report, scheduled for March 5, will highlight private-sector job growth in the U.S.

After last month’s disappointing figures, analysts at FactSet forecast a further slowdown, with February’s job growth dropping to near 143,000.

The focus is on jobs data this week, with ADP on Mar 5 expected at 143,000 and non-farm payrolls on Mar 7 forecasted at 160,000. If those hit or beat, the bulls will likely drive a 1-2% gain, fueled by optimism in tech and a belief in a soft landing.

A stronger-than-expected result could reinforce confidence in traditional markets and weigh on Bitcoin.

Meanwhile, weaker data may bolster expectations of Federal Reserve rate cuts, possibly lifting Bitcoin’s value.

Non-Manufacturing PMI – March 5

The Non-Manufacturing PMI, also scheduled on March 5, provides insights into the service sector’s performance.

Since the U.S. service sector drives a significant portion of the economy, any slump could suggest broader weakness and encourage investors to turn toward Bitcoin as an alternate asset.

Related: President Trump to Speak at First-Ever White House Crypto Summit on March 7

US Jobless Claims – March 6

On March 6, the weekly Initial Jobless Claims data will give a snapshot of the nation’s labor market.

Analysts anticipate a rise to 243,000 claims, hinting at a possible slowdown in hiring.

Higher claims could deepen economic worries, prompting more people to see Bitcoin as a safe haven.

This week, several key U.S. economic events may impact the crypto market. After a shift in sentiment following President Donald Trump’s executive action to mandate a crypto strategic reserve, market players and investors are closely monitoring economic data to gauge the health of the world’s largest economy.

After last month’s disappointing figures, analysts at FactSet forecast a further slowdown, with February’s job growth dropping to near 143,000.

The focus is on jobs data this week, with ADP on Mar 5 expected at 143,000 and non-farm payrolls on Mar 7 forecasted at 160,000. If those numbers are hit or better, the bulls could push for a 1-2% gain, especially with tech stocks remaining high and a belief in a soft landing.

However, if non-farm payrolls miss badly—coming in below 100,000—and unemployment rises unexpectedly, a 3-