As always, this Sunday, we are discussing important developments that will directly affect cryptocurrency investors. The Fed minutes turned the week into a terrible period for Bitcoin and others. After the events that followed, we suddenly found the price at $26,000. So, what critical events will cause the price to move this week?
Critical Developments in Cryptocurrencies of the Week
Although volatility has increased, the cumulative volume is still below $25 billion. Despite surpassing $75 billion with liquidations during the week, the weakness in volume continues to be frustrating. Perhaps the most challenging periods of bear markets are the weeks when the volume of “decreased interest” falls rather than the decline itself. This situation also causes daily traders, who are the last line of defense, to withdraw from the market.
But many critical developments in the coming days can keep the movement in cryptocurrencies alive.
August 21, Monday
- Users who have not completed KYC verification (identity and face scanning) will not be able to use any products on OKX exchange.
- 04:15 China Interest Rate Decision (Expectation: 3.4% Previous: 3.55%)
- INJ Unlocking (22.4 Million USD)
August 22, Tuesday
- 08:00 Japan CPI (Expectation: 2.7% Previous: 3%)
- 14:30 Fed/Barkin Speech
- 17:00 US Existing Home Sales (Expectation: 4.15M Previous: 4.16M)
- 21:30 Fed/Bowman Speech
- A decision may be reached in the Grayscale case.
- Sonm (SNM), Serum (SRM), and DFI Money will be delisted from Binance exchange.
August 23, Wednesday
- 13:00 EU Economic Forecasts
- 15:00 US Building Permits (Expectation: 1.442M Previous: 1.441M)
- 16:45 US Manufacturing PMI (Expectation: 49.4 Previous: 49)
- 16:45 US Services PMI (Expectation: 52.3 Previous: 52.3)
August 24, Thursday
- 15:00 Jackson Hole Symposium (August 24-26)
- 15:30 US Core Durable Goods Orders
- 15:30 US Initial Jobless Claims (Expectation: 244K Previous: 239K)
August 25, Friday
- 17:05 Powell Speech
- LDO Unlocking (14.1 Million USD)
August 26, Saturday
- AVAX Unlocking (103 Million USD)
How Will Cryptocurrencies Be Affected?
Jackson Hole is the most critical development of the week and caused significant price fluctuations last year. Investors should closely follow the statements to be made by Powell. We will share these statements with you instantly as breaking news on COINTURK. The AVAX unlocking is crucial for altcoins, and if negative sentiment persists, popular altcoins may experience even greater losses.
It was expected on Friday but did not happen. Now, experts are expecting a decision for the Grayscale case on Tuesday. This can also cause significant fluctuations in the markets.
