A busy week of events affecting the cryptocurrency market…Details here
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Answer A busy week of events affecting the cryptocurrency market…Details here
The past few weeks in the cryptocurrency market have been relatively quiet as the lack of financial events has allowed some assets to enter short-term rallies.
While in the coming week i.e. starting from tomorrow, investors should prepare for some volatility.
The cryptocurrency market is awaiting notable events this week:
FOMC, CPI, PPI and more in one week.
will be Issuance Many economic data reports for the public, which will likely lead to some moves in both the financial and digital asset markets.
CPI data will once again tell investors how financial regulators are dealing with inflation in the country and whether additional monetary policy tightening is needed.
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While the FOMC meeting minutes will give investors more clarity on how the regulation came to a major rate hike decision in the US.
In more detail, investors will be able to form a certain opinion about how institutions react to the published data.
Depending on the financial regulators’ narrative, the cryptocurrency market will react with increased volatility up or down.
Now, the lack of impact on inflation according to the latest CPI report makes most investors bet on the continuation of tight monetary policy.
The largest digital asset (Bitcoin) is currently in a consolidation movement and has been fluctuating between the $20,000 and $19,000 level for several weeks.
As the bitcoin price has been moving in a low volatile price range for the past few weeks.
This movement indicates that the bulls or bears have no control over the market, and the above events should bring more clarity and contribute to creating some movement.
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