Bitcoin price continues to hold at $34,000 on the last Sunday before the Fed meeting. Investors are still not used to the current price. No one expected the critical levels of $31,000 and $31,800 to be surpassed so quickly. October brought an increase of over 20% in line with the Uptober legend. So, what will happen next?
Weekly Developments in Cryptocurrencies
The Fed week has arrived, but we are in a much more relaxed period compared to previous meetings. Unless there is a surprise, the Fed will announce the official or unofficial interest rate ceiling on Wednesday. Although the rate of decline has slowed down, what we see from the PCE data is that inflation is still weakening. Moreover, the Fed continues to tighten from many channels.
Steps such as balance sheet contraction and credit tightening lead to results similar to interest rate hikes. This actually supports the possibility of no further interest rate hikes. So, what developments will affect the cryptocurrency markets in the coming days?
October 30, Monday
- OP Token Unlocking (33 Million Dollars)
October 31, Tuesday
- 04:30 China PMI Data
- 13:00 Eurozone Inflation (Expectation: 3.2%, Previous: 4.3%)
- 17:00 US Consumer Confidence (Expectation: 100, Previous: 103)
- TON Blockchain Performance Test (Trial for per-second transaction record)
- DYDX Unlocking (5.13 Million Dollars)
November 1, Wednesday
- 15:15 US Nonfarm Payrolls Change (Expectation: 141K, Previous: 89K)
- 17:00-16:45 US PMI Data
- 17:00 US JOLTS (Expectation: 9.27M, Previous: 9.61M)
- 21:00 Fed Interest Rate Decision (Expectation: Unchanged)
- 21:30 Powell Speaking
- November 1-3 MET Amsterdam (MANA Coin)
November 2, Thursday
- 15:30 US Unemployment Claims (Expectation: 210K, Previous: 210K)
- Cardano Summit 2023
November 3, Friday
- 15:30 US Average Hourly Earnings (Expectation: 0.3%, Previous: 0.2% Monthly)
- 15:30 US Nonfarm Payrolls (Expectation: 182K, Previous: 336K)
- 15:30 US Unemployment Rate (Expectation: 3.8%)
- 17:00 US PM Data
- November 3-5 ApeFest 2023 (ApeCoin)
