[PRESS RELEASE – Castries, Saint Lucia, June 2nd, 2025] PrimeXBT, a global multi-asset broker, has expanded its regulated offerings with approval from the Financial Sector Conduct Authority (FSCA) in South Africa to provide crypto services. This development strengthens PrimeXBT’s presence in one of Africa’s leading financial markets and supports the company’s broader mission to advance […]
A large week for labor markets looms with four employment-related reports to be released in addition to a speech from the Federal Reserve chair and two PMIs.
Meanwhile, trade tensions between the United States and China are escalating again. Beijing reportedly stated that it will “take forceful measures to safeguard its legitimate rights and interests” if the US insists on “going its own way and continues to undermine China’s interests.”
The comments follow US Treasury Secretary Bessent stating over the weekend that China is “withholding some of the products that they agreed to release during our agreement.”
Crypto markets have lost $130 billion over the past week, and more volatility lies ahead.
Economic Events June 2 to 6
May’s S&P Global Manufacturing Purchasing Managers Index (PMI) is due on Monday. The report measures business activity in the manufacturing sector, a critical component of US GDP and a leading economic indicator.
Fed chair Jerome Powell also speaks on Monday in an address that will be closely analyzed for any evolution in the central bank’s thinking about economic resilience, inflation persistence, and monetary policy direction.
Tuesday will see April’s JOLTS Job Openings data, followed by Wednesday’s ADP Employment report. These reports shine light on labor market health, from job availability through private sector hiring to comprehensive employment statistics.
Wednesday will also see May’s S&P Global Services PMI, a report that gauges activity in the services sector, which accounts for more than two-thirds of the US economy.
More labor market reports are due on Thursday with initial jobless claims and Friday’s jobs report, which represents the week’s most consequential economic release.
Key Events This Week:
1. May ISM Manufacturing PMI data – Monday
2. Fed Chair Powell Speaks – Monday
3. April JOLTS Job Openings data – Tuesday
4. May ADP Nonfarm Employment data – Wednesday
5. Initial Jobless Claims data – Thursday
6. May Jobs Report data – Friday
It’s a…
— The Kobeissi Letter (@KobeissiLetter) June 1, 2025
Crypto Market Outlook
Crypto market capitalization was down marginally on Monday morning in Asia at $3.4 trillion. However, some assets were showing a slight recovery from last week’s losses.
Bitcoin had gained from a dip below $104,000 on Sunday to reclaim $105,800 during Asian trading on Monday. However, it found resistance there and started to pull back at the time of writing.
Ethereum had recovered to reclaim $2,500 but also hit resistance just above this level. ETH has been tightly range-bound for the past three weeks.
The altcoins were a mixed bag with marginal gains for Solana, Tron, Hyperliquid, and Sui, while Bitcoin Cash and Leo were falling back.
The post 4 Things That Could Impact Crypto Markets This Week appeared first on CryptoPotato.
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