Federal Reserve speeches this week may give insights into upcoming monetary policies.
Economic data from the U.S. will provide vital price increases and job reports.
Regulatory updates could shape the future of
Bitcoin
and other digital investments.
The BTC marketplace is entering a crucial week as participants focus on important economic events. Last week, the U.S. Federal Reserve lowered interest rates by 50 basis points. This led to optimism in the sector, and BTC prices went up. However, the spotlight now shifts to speeches by officials and key U.S. economic reports that could influence the market.
Government officials are scheduled to give speeches this week. Investors hope to get clues about future monetary policy. These addresses follow last week’s price decrease, which revived confidence in the market.
Bitcoin investment must-have, this week’s heavyweight events first look (9/23-9/29)
Last week’s Fed interest rate meeting decided to cut interest rates by 50 basis points, the crypto market was encouraged by the significant rise, and this week a number of Fed governors spoke…
— Greeks.live (@GreeksLive)
September 23, 2024
Additionally, important U.S. economic data will be released. On Thursday, the initial jobless claims report will be closely watched. Moreover, on Friday, the core Personal Consumption Expenditure Price Index for August and the Final University of Michigan Consumer Perception Index for September will provide insight into inflation and consumer mood.
These reports and statements could influence
Bitcoin’s
price over the next few weeks.
Besides the economic data, legislative updates are also a major focus. On Monday, the U.S. House of Representatives will hold a conversation, and the Securities and Exchange Commission will testify. This confession may affect the rules of virtual assets like BTC.
Meanwhile, European Central Bank President Christine Lagarde is expected to speak at the 8th Annual ESRB Meeting. Investors will watch for any policy shifts in the Eurozone that could affect global markets and crypto.
These happenings come at a time when the economy remains optimistic about Bitcoin’s prospects despite continuing risks.
Many believe Bitcoin may be nearing the bottom. Historically, October has been a good month for virtual cash, so investors are hoping for a rally. The Federal Reserve’s recent rate cut has strengthened this belief.
Yet, the mix of regulatory news and key economic reports this week could bring more market fluctuations. Therefore, investors should stay cautious as these important events unfold.
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