As we do every week, we will discuss the developments in the cryptocurrency markets that await us this week. This week is expected to be extremely busy, especially after last week’s Producer Price Index (PPI) data, which heightened the importance of the coming days. The risk of decline we warned about resulted in over $1 billion in liquidation in a single day last week. What developments this week could cause increased volatility in cryptocurrencies?
Crucial Developments in Cryptocurrency Markets
This month, all tariffs have been fully implemented, resulting in an effective customs duty rate spike to about 17%. This indicates that tariff-induced inflationary pressures on goods and services are becoming more pronounced. Before the interest rate decision in September, we will see one more employment and inflation report. The last PPI data was poor, weakening optimism regarding the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) index. BTC is starting the new week around $15,000.
Below are the important developments that await us in the coming days, with details of dates and times.
August 19, Tuesday
- 21:10 Fed/Bowman to Speak (One of the two members advocating rate cuts in July; insights post-PPI data are crucial)
- 1inch (“Time to unite DeFi” hinting announcement on August 19)
August 20, Wednesday
- 12:00 Eurozone CPI Annual Final (Expectation and Previous: 2%)
- 18:00 Fed/Waller
- 21:00 Fed Minutes
- 22:00 Fed/Bostic
- Flare FAssets V1.2 Launch
August 21, Thursday
- 12:35-14:00 Earnings Reports for Alibaba and Walmart
- 14:30 Fed/Bostic
- 15:00 Jackson Hole Symposium (All day)
- 16:45 US S&P Services PMI Preliminary (Expectation: 54.2)
- 16:45 US S&P Manufacturing PMI Preliminary (Expectation and Previous: 49.8)
- Coinfest Asia (August 21-22)
- Gala Coin VEXI Villages Update
- Starknet SNIP-31 Vote (Lock tokenized BTC to earn STRK rewards)
August 22, Friday
- 15:00 Jackson Hole Symposium (All day)
- 17:00 Fed Chair Powell’s Opening Speech
August 23, Saturday
- 15:00 Jackson Hole Symposium (All day)
- 19:25 Speech by European Central Bank President
What to Watch
In the Fed’s minutes, we might see more details about tariff effects on inflation and concerns. If unexpected details like Trump’s pressuring the Fed into political decisions arise, this could lead to shocking declines. Understanding the motivations of members voting to keep rates unchanged can influence mid-term expectations.
The Jackson Hole Symposium is a significant event where the heads of central banks gather, deemed one of the year’s most important occurrences. This month, discussing tariffs comprehensively, the outcomes from this meeting could significantly impact prices. Powell’s speech here should be closely monitored. If PMI preliminary data surprises on the low/high side, it would generate volatility. Tomorrow, Bowman’s insights on whether he still advocates rate cuts despite PPI data could be crucial.
