This week’s economic calendar is out and Bitcoin is flying.

A busy economic calendar is set for the week ahead and crypto markets have been on the move. Bitcoin tops $40,000 for first time since April 2022, but could the pace be faster?

Macroeconomics outlet Kobeissi's letter listed the key economic events for the United States since December 4. There are some jobs and consumer sentiment figures, but no notable Federal Reserve speeches this week.

Macroeconomic calendar

ISM non-manufacturing PMI data is due on Tuesday. This supply management is also known as Purchasing Managers' Index. It is a composite trade index calculated as an indicator of overall economic conditions for the manufacturing sector.

There are some initial jobless claims opening on Thursday, which are expected to be slightly higher than last month.

Friday, December 8, has consumer sentiment data and the November jobs report. Consumer sentiment is expected to improve slightly. It is an economic indicator that measures consumers' optimism about finances and the state of the economy.

“This week's big number of employment data will have a big impact on next week's Fed meeting,” Kobayashi's letter commented.

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Additionally, the U.S. unemployment rate, also on Friday, is expected to remain unchanged at 3.9 percent.

However, crypto markets are not expected to be affected by economic calendar events this week. Spot Bitcoin ETF approvals in January seem to be moving on their own.

The total market capitalization gained about $40 billion over the weekend. That brought it to a 19-month high of $1.59 trillion at the time of writing. Markets are also down 48% from their peak of $3.08 trillion in November 2021.

Bitcoin's high is $40,000

Bitcoin is leading the way today, rising to $40,800 during Monday morning's Asian trading session.

BTC is the highest price seen since April 2022 and is up 3.5% in the last 24 hours.

The king of crypto has now made 9% in the past week and has been steadily increasing since September.

BTC is leading the markets with Ethereum gaining 2.6% to $2,217. The rest of the altcoins only made up two percent, with Litecoin, Bitcoin Cash and Shiba Inu performing well.