Just like every week, we will discuss the significant developments that will take place in the next seven days. The previous week was one of the most critical periods, and the macro developments mostly favored cryptocurrencies. Employment is weakening, wage increases are slowing down, and Powell made relatively moderate statements.
Key Developments of the Week
Key openings, future data on the macro front, and developments specific to altcoins often directly affect prices. After events occur, most investors investigate the reasons behind price movements and become aware of what triggers volatility. However, it is possible to be prepared for volatility. So, what can we expect in the next seven days?
November 6, Monday
- 19:00 Fed/Cook Speech
- Digital Asset Conference (BNB, TETHER, LDO, DYDX)
November 7, Tuesday
- 17:15 Fed/Barr
- 20:00 Fed/Williams
- 21:30 Fed/Logan
- NEARCON 2023
November 8, Wednesday
- 17:15 Fed/Powell Speech
- 21:40-22:00 Fed/Williams and Barr
- Ripple Swell 2023 (November 8-9)
November 9, Thursday
- 16:30 US Unemployment Claims (Expectation: 215K Previous: 217K)
- 22:00 Powell Speech
- Last day for parties to determine conference dates in the Ripple case.
November 10, Friday
- 18:00 Michigan Expectations
Pay Attention to Cryptocurrencies
If the Fed is uncomfortable with the current optimistic market sentiment, it will have many opportunities to reverse it in the coming days. The tone that Powell and other members will use in their speeches is extremely important. On the other hand, if Powell does not focus on the issue of interest rates remaining at their peak for a longer period of time and does not maintain pressure, new highs for BTC should not come as a surprise. We will see many data until the next Fed meeting, which is about 40 days away, but for now, the data is favorable for crypto investors.
Announcements from the NEAR front on Tuesday can stir up the markets. As we mentioned, November 9 is an important period for the battle between the SEC and Ripple, and if conference dates are not determined on November 9, the judge will do so.
We are on the eve of a week that is calm in terms of data flow but intense in terms of announcements. As always, we will quickly deliver important announcements to you through COINTURK.
