The upcoming week is set to be a pivotal one for cryptocurrency markets, with several significant events scheduled to take place.
On Tuesday, the FTX Recovery Trust will distribute approximately $2.2 billion to creditors, marking a crucial step in the process of resolving the bankruptcy of the once-prominent exchange.
Later in the week, the US will release key jobs data on Friday, including the nonfarm payrolls statistic and unemployment rate. These figures are expected to have a significant impact on equity markets worldwide, particularly as many major exchanges will be closed for Good Friday.
According to Luke Deans, a senior research associate at Bitwise, global macro forces remain the primary drivers of risk sentiment in cryptocurrency markets. He notes that while liquidity is an important factor, market fragility persists due to ongoing geopolitical uncertainty.