Cryptocurrency investors The eighth month of the year is coming to an end for and the expected big rise has not started yet. Although BTC broke a new all-time record before the halving, it was an extremely weak move compared to previous peaks. So are these boring days over? What awaits cryptocurrencies in the coming days?
Cryptocurrencies Important Developments of the Week
Bitcoin and it is extremely important to prepare for these developments in advance, which significantly affect the price of altcoins. In this way, investors who are aware of the things that will trigger volatility and what triggers it can take more accurate positions. This week, both PCE and NVIDIA It is a very important week and what awaits us with all its details is as follows; A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Wednesday, August 28
- 08:15 Fed/Waller Will Speak
- 23:20 NVIDIA Earnings Report
- Starknet V0.13.2 Mainnet
Thursday, August 29th
- 01:00 Fed/Bostic
- 15:30 United States GDP (Expected and Previous: 2.8%)
- 15:30 US Unemployment Claims (Expected: 232.5K Previous: 232K)
Friday, August 30
- 15:30 US PCE (Expected: 2.7% Previous: 2.6%)
Cryptocurrencies Comment
PCE The data is exactly what the Fed is watching as an inflation indicator, and the upcoming figure is extremely important. If there is a surprise increase above expectations, this could put the Fed in a difficult position with weakening employment. On the other hand, the expected data will need to further strengthen the possibility of a 100bp minimum interest rate cut targeted for 2024.
Fed now accepts that the risks of excessive tightening have become apparent and employment has begun to take a hit. This means lowering interest rates and beginning a period of monetary easing. However, if inflation indicators are signaling the opposite, the interest rate cuts will at best be paused.
On the other hand, there is no major announcement specifically for cryptocurrencies and the monthly closing will be the other most important detail for prices. BTC It is struggling to hold on above $63,500 and if it can make a monthly close above $68,000, it could increase risk appetite in altcoins.
The only major risk left is US assets, which are oversupplied and will continue to be so in the coming weeks. FTX refunds There will be a confirmation hearing for.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
