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Bitcoin Price Analysis: What to Expect After the Fed Meeting?

In Brief

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 […]

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?

Contents

Weekly Developments in Cryptocurrencies October 30, Monday October 31, Tuesday November 1, Wednesday November 2, Thursday November 3, Friday

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)

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and therefore carry risks, and they should conduct their transactions based on their own research.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Bitcoin Price Analysis: What to Expect After the Fed Meeting?

In Brief