Crypto markets have moved higher over the weekend with big gains for altcoins as Bitcoin pushed past $81,000 into new price discovery zones.<\/p>\n
Last week, two major catalysts kicked off the action with a sweeping victory for Donald Trump in the US presidential elections and the Federal Reserve cutting interest rates by a further 25 basis points.<\/p>\n
Fed Chair Jerome Powell reiterated his stance that the central bank\u2019s future policy decisions will continue to be dependent on these economic reports, and this week will see key inflation data released.<\/p>\n
Powell indicated that he believes rates remain restrictive even after last week\u2019s<\/a> reduction, suggesting that inflation appears to be on a path toward the Fed\u2019s 2% target.\u00a0Additionally, his comments opened the possibility the central bank might pause these reductions at its next meeting in December.<\/p>\n October\u2019s CPI inflation report is due on Wednesday, and this data is one of the two key indicators used to measure inflation. The second one is the PCE report. CPI data reflects the price trends in the economy, shapes consumer spending and business outlook, and directly affects the Fed\u2019s policy rate decisions.<\/p>\n Thursday will see the release of October\u2019s Producer Price Index (PPI) report, which reflects input prices for producers and manufacturers and measures the costs of producing consumer goods. This directly affects retail pricing and is a leading indicator for the following month\u2019s CPI and overall inflation outlook.<\/p>\n Key Events This Week:<\/p>\n 1. OPEC Monthly Report \u2013 Tuesday<\/p>\n 2. October CPI Inflation data \u2013 Tuesday<\/p>\n 3. October PPI Inflation data \u2013 Thursday<\/p>\n 4. Fed Chair Powell Speaks \u2013 Thursday<\/p>\n 5. October Retail Sales data \u2013 Friday<\/p>\n 6. Total of 12 Fed speaker events this week<\/p>\n We have another\u2026<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) November 10, 2024<\/a><\/p>\n\n October\u2019s Retail Sales reports will be released on Friday, providing insight into the amount of money consumers are spending on both durable and non-durable goods in the US.<\/p>\n Fed chair Powell will speak on Thursday, and several other central bank speeches are planned for the week.<\/p>\n \u201cMarkets will also continue to digest earnings season, the election outcome, and the Fed meeting,\u201d commented the Kobeissi Letter.<\/p>\n Crypto market capitalization has climbed to its highest level since the mid-March peak, hitting $2.88 trillion following a weekend of solid gains for most crypto assets.<\/p>\n Bitcoin hit an all-time high<\/a> of $81,800 during late trading on Sunday and remains over $80,500 at the time of writing, indicating that momentum could continue.<\/p>\n Ethereum also continued its surge, topping $3,200 over the weekend and holding onto gains during the Monday morning Asian trading session.<\/p>\n The altcoins were also pumping with huge gains for Dogecoin<\/a> (DOGE), Cardano<\/a> (ADA), and Shiba Inu<\/a> (SHIB) over the weekend.<\/p>\n The post 3 Things That Could Move Markets With Big Inflation Reports Due This Week<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto markets have moved higher over the weekend with big gains for altcoins as Bitcoin pushed past $81,000 into new price discovery zones. Last week, two major catalysts kicked off the action with a sweeping victory for Donald Trump in the US presidential elections and the Federal Reserve cutting interest rates by a further 25 […]<\/p>\n","protected":false},"author":0,"featured_media":19422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19421","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\/19421"}],"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=19421"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19422"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Hits $81K ATH<\/h2>\n