【DigitalToday reporter Yoonseo Lee】 With bitcoin holding the $92,000 level, this week's U.S. economic calendar is expected to have a major impact on the market. As expectations for a Federal Reserve rate cut waver, key data releases and speeches are expected to increase volatility in bitcoin and altcoin markets.

On Jan. 19, blockchain outlet BeInCrypto highlighted key points to watch that will shape the direction of the cryptocurrency market this week.

The first factor is a World Economic Forum (WEF) speech by U.S. President Donald Trump. The speech, scheduled for 1:30 p.m. on Jan. 21, is likely to cover trade, tariffs and geopolitical issues. If Trump makes hawkish trade remarks, it could strengthen the dollar and pressure bitcoin prices. If he delivers pro-growth remarks, the broader cryptocurrency market could rise, though that possibility cannot be ruled out.

The second factor is U.S. weekly initial jobless claims due on Jan. 22. Economists expect 203,000 claims as of Jan. 15, up from 198,000 the previous week. If unemployment is lower than expected, the Fed could reinforce its tightening stance, which could have a negative impact on risk assets such as bitcoin.

The third factor is the personal consumption expenditures (PCE) price index, also due that day. It is the Fed's most preferred core inflation gauge, and the market is forecasting a 0.2 percent rise from the previous month. If inflation pressure is confirmed to remain, the timing of a rate cut could be delayed, and that is expected to act as downward pressure on risk-asset markets such as bitcoin.

The final factor is the University of Michigan consumer sentiment index due on Jan. 23. The revised January reading is expected at 54.0, its lowest level in 75 years. If consumer sentiment weakens, investment sentiment toward risk assets such as bitcoin is also likely to deteriorate.

Bitcoin is currently holding a precarious line at $92,000 as selling and buying forces remain evenly matched. Ahead of a series of major macroeconomic events this week, market participants appear unable to settle on a direction and are maintaining a wait-and-see stance like the calm before a storm.

Experts see this week as a turning point that will determine the direction of the cryptocurrency market in the first half of the year. As co-movement between macroeconomic variables and the cryptocurrency market has deepened, they point to the need for investors to stay highly alert to Trump's remarks and the Fed's policy signals and to thoroughly manage risk.