Top Crypto Market News of This Week as Bitcoin Price Hits $80k

Key Insights

• There will be some important crypto market news this week.
• The US will release the latest non-farm payrolls data on Friday.
• The Consensus event will happen in Miami, while top companies will release their earnings.

Bitcoin has returned to $80,000, ushering in a significant week in crypto market news. Momentum from the Consensus event in Miami has collided with new financial reports from Coinbase and PayPal. There, industry executives discussed regulation and adoption.

At the same time, upcoming US labor data may influence overall economic sentiment. Together, these forces, corporate results, policy discussions, and macro shifts may set the next decisive trend for digital assets.

Consensus Event Will be Key Crypto Market News

The main crypto market news this week will come from Miami. There, the biggest players in the industry will gather for the Consensus event.

This is a major event where top officials will gather and discuss the happenings in the industry. Donald Trump Junior and Eric Trump will attend. Similarly, policymakers from the Securities and Exchange Commission (SEC) and CFTC will be among the keynote speakers.

In addition to this, crypto executives from companies like OKX, Coinbase, and Binance will attend and talk. The two Pi Network founders will also make presentations.

This event has historically delivered key crypto news. Officials present updates, and companies announce new plans.

Coinbase, PayPal, and Strategy to Publish Their Earnings

The other important crypto market news will come from the United States. There, top companies in the industry will release their financial results.

Coinbase will release its numbers, which analysts expect will show a significant deterioration because of the crypto winter.

Precisely, analysts predict the company’s revenue dropped by 25% YoY as transaction revenue dropped. A good example of this is Robinhood, which reported weak crypto revenue last week.

PayPal, another top player in the crypto industry, will also release its numbers. The company is regarded as a crypto company because it established PYUSD. It’s a major stablecoin with over $4 billion in supply.

The upcoming results are important as they are the first ones under the new CEO. He was asked to accelerate the turnaround strategy. For example, Media reports say the company plans to change how it reports its Venmo business. It may also consider options like a spin-off.

Michael Saylor’s Strategy will also release its numbers this week. These results will have little impact on the stock. The company has already signaled a $14 billion unrealized loss in the first quarter.

Crypto Market News: GameStop Makes a Bid for eBay

Another top crypto market news is from GameStop, a top meme stock that became popular in 2021. According to Ryan Cohen, the CEO, the company is preparing to make a $56 billion bid for eBay.

The deal is notable as eBay has a market capitalization of over $46 billion. At the same time, GameStop has a valuation of $12 billion. As a result, it would need to raise over $47 billion in debt to actualize the deal.

GameStop is seen as a crypto company because other company has invested in Bitcoin. It spent over $500 million acquiring its coins last year

US Non-Farm Payrolls Data (NFP)

Macro data will have an impact on the crypto market this week. The most important one will be the upcoming US non-farm payrolls data, which will come out on Friday this week.

Economists expect the data to show that the US economy created over 78k jobs in April. That’s much lower than the 153k it created in the previous month.

However, chances are that the report will be strong because of the upcoming World Cup event in the US. Also, the report will not include the thousands of jobs that disappeared when Spirit Airlines closed its business.

World Liberty Financial vote

Meanwhile, World Liberty Financial will be in the spotlight that week as its token remains near its all-time low.

The main reason why traders are focusing on it is that it is now having a major vote. This may lock in earlier investors for two years. Also, the founders and other investors will be forced to burn 10% of their tokens.

Data on its website shows that the vote will pass, with 99% of the votes supporting it. This vote, together with other governance issues, explains why Justin Sun has sued the organization.

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