What Upcoming Events Will Shape Cryptocurrency Markets?

The cryptocurrency landscape is poised for significant shifts as critical developments unfold in the coming days. Following the November election results, market participants are keenly focused on forthcoming events that could influence price trajectories and trading activities.

What Key Events Should Traders Watch?

Traders are bracing for volatility as several pivotal data releases are set to impact market conditions. Historical trends show that data, including PMI figures and inflation rates, have consistently affected cryptocurrency movements. Key upcoming events include:

Tuesday, November 26

• 22:00 Fed Minutes Release
• Launch of Starknet Staking
• ADA Coin Unlocking ($19.7 Million)

Wednesday, November 27

• 16:30 US Unemployment Claims (Expected: 217K Previous: 213K)
• US Durable Goods Report (Expected: 0.5% Previous: -0.7%)
• US GDP Figures (Expected and Previous: 2.8%)
• 18:00 US PCE Data (Expected: 2.3% Previous: 2.1%)

What Will Be the Impact on Cryptocurrencies?

The release of the Fed minutes on Tuesday marks the beginning of a crucial period for the markets. Critical indicators such as the PCE data and GDP results will likely serve as precursors to the upcoming Federal Reserve meeting in December.

• The probability of a 25 basis point rate cut stands at nearly 50%.
• Poor data could halt interest rate cuts, negatively impacting crypto valuations.
• Robust PCE figures could propel BTC above the six-figure threshold, though profit-taking is anticipated at that level.
• Significant ETF fund exits could create additional pressure on altcoins.

With the potential for upward or downward momentum influenced by economic indicators, traders should remain vigilant. The next few days promise to be pivotal for navigating the crypto markets effectively.