This week, the cryptocurrency markets will be closely monitored for key data points and important speeches from officials. Investors are eagerly waiting to see how economic data unfolds to determine the Federal Reserve's future interest rate decisions.

Among the various data points, there are three main ones that the market will be focusing on:

1. Federal Reserve Speeches

Investors are particularly interested in speeches from various Federal Reserve officials regarding potential rate cuts. The possibility of a rate cut earlier than expected has caused a stir in the market, with data supporting the Fed's stance. Lower interest rates could lead investors to look into alternative assets like Bitcoin, boosting the cryptocurrency market.

2. Non-Farm Payroll

The upcoming US Non-Farm Payroll data is crucial as it will help determine the state of the labor market. Investors are hoping for a more balanced supply and demand in the job market, which could indicate potential growth without an increase in inflation.

3. Initial Jobless Claims

The recent US jobs data revealed that more Americans were not part of the formal workforce despite the unemployment rate being higher than expected. This suggests a decrease in purchasing power and risk appetite among consumers. Day traders and crypto investors will be closely watching this week's jobless claims data to understand the market's purchasing power better.