Crypto markets gained over the weekend and are holding on to momentum in early Monday trading in Asia.<\/p>\n
This week\u2019s raft of economic and inflation reports<\/a> could give them a further boost, especially if the probability of another large rate cut increases.<\/p>\n \u201cA November 50 basis point rate cut was almost entirely priced out last week, but that could change,\u201d commented the Kobeissi Letter.<\/p>\n Last week\u2019s jobs and employment figures underscored the job market\u2019s continued resilience and increased the odds that the economy will continue to grow above trend this quarter.<\/p>\n The Federal Reserve will release the minutes from its September meeting on Wednesday, providing another look at how monetary officials are viewing the current economy.<\/p>\n The core Consumer Price Index (CPI) report, one of two major indicators used to measure inflation, will be released on Thursday.<\/p>\n Central bank policymakers, businesses, and consumers closely watch the CPI report, as it reflects the price trends, impacts consumer spending, and directly influences Fed policy rate decisions.<\/p>\n Easing price pressures prompted the Fed to reduce rates in September, which influences borrowing costs across the economy.<\/p>\n September\u2019s Producer Price Index (PPI) will be released on Friday. This report reflects prices for producers and manufacturers, which directly affects retail prices. It is considered a leading indicator for inflationary pressures and the following month\u2019s CPI.<\/p>\n Friday will also see September\u2019s Michigan Consumer Sentiment Index and Consumer Inflation Expectations preliminary readings. This data revealed the results of monthly surveys of consumer confidence and long-term inflation expectations.<\/p>\n Key Events This Week:<\/p>\n 1. EIA Short-Term Energy Outlook \u2013 Tuesday<\/p>\n 2. Fed Meeting Minutes \u2013 Wednesday<\/p>\n 3. September CPI Inflation data \u2013 Thursday<\/p>\n 4. Initial Jobless Claims data \u2013 Thursday<\/p>\n 5. September PPI Inflation data \u2013 Friday<\/p>\n 6. Total of 18 Fed speaker events this week\u2026<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) October 6, 2024<\/a><\/p>\n\n Earnings reports from JPMorgan Chase, Wells Fargo, and BlackRock will also be on the table this week.<\/p>\n Crypto markets gained marginally over the weekend with total capitalization climbing more than $100 billion to $2.32 trillion by Monday morning in Asia.<\/p>\n Bitcoin climbed<\/a> to its highest level for a week, hitting $63,900 on Monday morning before pulling back slightly. The asset is currently up 2.8% on the day, wiping out most of last week\u2019s losses.<\/p>\n Ethereum has performed even better, with a 3.7% daily gain, reaching $2,500 during Aian trading on Monday morning. However, ETH remains down 4% since the same time last week.<\/p>\n At the time of writing, the\u00a0altcoins were a sea of green,\u00a0with larger gains for Avalanche (AVAX), Shiba Inu (SHIB), Near Protocol (NEAR), Sui (SUI), and Bittensor (TAO).<\/p>\n However, escalating conflict in the Middle East and Israeli retaliation could dampen the crypto market\u2019s recovery.<\/p>\n $BTC<\/a> Sunday update:<\/p>\n It\u2019s NOT going to be an easy week to trade.<\/p>\n We have FOMC Minutes, CPI, PPI, Israel-Iran escalation.. so the best days could likely be Monday and Tuesday.<\/p>\n It\u2019s important to plan the week ahead, let me share mine with you:<\/p>\n pic.twitter.com\/bEm2HE3xUD<\/a><\/p>\n \u2014 CrypNuevo (@CrypNuevo) October 6, 2024<\/a><\/p>\n\n The post These Important Events Can Impact Bitcoin\u2019s Price This Week<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto markets gained over the weekend and are holding on to momentum in early Monday trading in Asia. This week\u2019s raft of economic and inflation reports could give them a further boost, especially if the probability of another large rate cut increases. \u201cA November 50 basis point rate cut was almost entirely priced out last […]<\/p>\n","protected":false},"author":0,"featured_media":11953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11952"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11952"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11953"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Economic Events Oct. 7 to 11<\/h2>\n
Crypto Market Outlook<\/h2>\n