3 Major Events That Could Shake the Crypto Market This Week
Bitcoin enters this eventful and most likely volatile trading week on the right foot, with a price surge to $116,000 on Monday morning.
The question now is whether this rally will endure in the coming days, as the US Federal Reserve is expected to lower key interest rates, alongside a major meeting between presidents Trump and Jinping, and companies publishing earnings reports.
Big Week Ahead
Monday and Tuesday have no scheduled events from a macro perspective from the US and could be the calm before the storm, which is likely to begin on Wednesday. The US Federal Reserve Chair is scheduled to have a press conference right after the central bank announces its decision on the interest rates.
Experts and Polymarket odds expect a 25 bps rate cut. The chances rose last week when the CPI numbers for September came out, which showed that inflation was not as high as many feared.
President Donald Trump and President Xi Jinping are set to meet on Thursday in South Korea to discuss a potential trade deal between the two nations. Previous developments on the matter affected the cryptocurrency markets, including yesterday’s hint that a deal might be in the works.
Additionally, some of the largest US companies, including Microsoft, Alphabet, Meta, Apple, and Amazon, will report earnings this week.
Impact on Crypto Markets
BTC began its ascent yesterday after the aforementioned hint by US Secretary Bessent as the asset jumped from under $112,000 to over $113,500 and up to $116,000 earlier this morning. The altcoins followed suit with some impressive gains.
The question now is whether the market has priced in a potential Fed rate cut and a deal between the US and China, or the real impact of the two developments is yet to be felt. In any case, the week ahead appears to be highly eventful and possibly volatile.
The post 3 Major Events That Could Shake the Crypto Market This Week appeared first on CryptoPotato.
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