The crypto market started the year well, with Bitcoin and most altcoins rising initially. They then pulled back as the January Effect started to fade. This article looks at some of the top crypto news to watch in the coming week.
Market Structure Bill is the Top Crypto News to Watch
The most important crypto news to watch next week will be the Market Structure Bill, popularly known as the CLARITY Act. In an X post, Senator Rick Scott, the head of the Senate Banking Committee, said that it will get a markup vote in the Senate next week.
Scott believes the bill will make the United States the crypto capital of the world, creating jobs and bolstering the country’s national security.
This is an important bill that provides clarity in the crypto industry by dividing the duties between the SEC and the CFTC. It will be the second-most important bill passed by Congress, after the GENIUS Act, which focused on the booming stablecoin industry.
In addition, regulators have become highly friendly toward the industry. For example, the Office of the Comptroller of the Currency (OCC) has given bank charters to some popular crypto companies, including Ripple, Paxos, and Fidelity.
The SEC is launching Crypto Exemption Month, a move it hopes will bring more innovation to the country. It also ended lawsuits against popular companies like Coinbase, Uniswap, and Ripple Labs. Most importantly, it has approved several crypto ETFs this week, including XRP, HBAR, and Dogecoin.
READ MORE: Top Altcoin Flops in Crypto: Pi Network, HMSTR, Cardano & Others
SCOTUS Ruling on Trump’s Tariffs
The other key crypto news to watch will be the upcoming ruling on Donald Trump’s tariffs, which was initially expected on Friday.
This ruling is now expected on January 14th, with most people on Polymarket predicting it will rule against the administration.
Such a move will have a mixed outlook for the crypto market. On the positive side, it means that inflation will start falling, which will push the Federal Reserve to continue cutting interest rates.
However, Trump and the administration still have multiple tools to achieve the same result. For example, instead of relying on the national security argument, the administration may invoke Section 232 of the Trade Expansion Act, which allows it to impose tariffs on key sectors.
The administration may also use Section 122 of the Trade Act of 1974, which allows tariffs to balance the trade deficit with other countries.
US Inflation Data to Impact Crypto Prices
The Bureau of Labor Statistics (BLS) will publish the latest Consumer Price Index data on Tuesday. This is an important report that examines price changes for products in the US and is one of the most common inflation measures.
Economists expect the data to show that inflation remained at 2.6% in December. A lower number than this will be bullish as it will boost the odds of interest rate cuts this year.
The report comes a few days after the US released the latest non-farm payrolls data, which showed that the economy added 50k jobs in December as the unemployment rate dropped to 4.4%.
Corporate Earnings Season
The other important crypto news will be the start of the fourth-quarter earnings season, which begins on Wednesday. Some of the top companies publishing earnings include Goldman Sachs, Morgan Stanley, BlackRock, JPMorgan, and Charles Schwab.
Some of these companies have made some moves in the crypto industry. For example, Morgan Stanley belatedly filed for ETFs for Ethereum, Solana, and Bitcoin this week, while JPMorgan launched a tokenized fund. Charles Schwab plans to launch crypto trading services soon.
READ MORE: Polygon Price Prediction: Here’s Why POL is in a Remarkable Bull Run
