Bitcoin 
$72,507The price movement of (BTC) in recent days attracts attention. The largest cryptocurrency excited investors by exceeding the level of 73 thousand dollars with an 8 percent increase. With some withdrawal since then, Bitcoin is currently trading around $72,000.
Factors Bringing the Rise to Bitcoin
Bitcoin’s rise is driven by strong demand for spot Bitcoin ETFs in the US, the start of a new cycle of monetary expansion in major economies, and a crypto-friendly candidate in the US Presidential election. Donald TrumpThere are factors such as increasing the chances of .
It is thought that Nevada and Pennsylvania, two critical states in the USA, may affect the outcome of the election. Before the presidential race ends next week, markets are wondering whether this momentum, called the “Trump Trade”, will continue or whether an unexpected development will occur.
Fed Interest Rate Cut Expectation Will Be Clarified With Future Labor Force Data
US labor marketNon-Farm Employment data, which is an important indicator regarding the economy, will be announced on Friday this week. Market expectations are that there will be an employment increase of around 110 thousand. This figure corresponds to approximately half of the previous data announced.
Data to be announced on Friday, next week Federal Reserve It will shape the markets’ expectations about interest rate cuts before the (Fed) meeting. Currently, the probability of a 25 basis point rate cut in November is evaluated as 96.5 percent. In addition, expectations that there may be another discount in December are at 75 percent. The labor market data to be announced is important in terms of finalizing these expectations.
Earnings Reports of Technology Giants May Direct the Markets
This week from technology giants Alphabet, Apple, Meta, Amazon And Microsoft‘s quarterly results will be announced. On average, these companies
To be announced quarterly earnings reports Although it is unclear what effect it will have on the stock markets, it will be an important indicator in measuring general market sentiment. The data is expected to also affect the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
