3 key events this week that could move Bitcoin and crypto prices

Key Points

1. Bitcoin has rebounded 7% this week and locked in 30% quarterly gains despite macro headwinds.

2. CryptoQuant's Spot vs. Derivative Volume Ratio plunged to 0.05 by end-May, indicating speculative activity rather than a clean breakout.

3. This week's key U.S. economic reports, including Fed Chair Jerome Powell's speech and non-farm payrolls data, could impact Bitcoin's price movement.

4. Bitcoin leverage is building fast, with Deribit's Taker Buy/Sell Ratio surging to 12.5 and Open Interest rising to $72 billion.

5. If macroeconomic data breaks against expectations and leverage remains elevated, Bitcoin could face a 20%+ correction.