Key Points
- Important financial occasions this week forward of the US elections might have an effect on Bitcoin’s trajectory.
- BTC is at the moment buying and selling above $68,000, after earlier surpassing $69,000.
Multiple financial occasions of the present week might have an effect on Bitcoin and the crypto market’s trajectory, lower than 3 weeks forward of the vital US elections.
Top 10 Events Potentially Affecting BTC Price
In a latest publish through X, Greeks.dwell addressed an important upcoming occasions value watching that would alter BTC’s trajectory:
- The Dallas Fed President Lorie Ok. Logan will communicate on the 2024 Securities Industry and Financial Markets Association of America (SIFMA) annual assembly immediately. (October 21)
- The Kansas Fed President Jeffrey Schmid will communicate on the outlook for the financial system and financial coverage. (October 22)
- The IMF will publish the Global Economic Outlook report. (October 22)
- Bank of Canada will announce the rate of interest decision and financial coverage report. (October 23)
- ECB President Christine Lagarde will communicate on the European financial outlook. (October 23)
- IMF-World Bank annual assembly will happen. (October 23)
- The Bank of Japan’s Governor Kazuo Ueda will communicate on the IMF-sponsored Governors’ Meeting. (October 24)
- The Federal Reserve within the US will launch its Brown Book on financial situations. (October 24)
- US preliminary jobless claims for the week will likely be launched. (October 24)
- The US closing University of Michigan client confidence index for October will likely be launched. (October 25)
All these are vital financial occasions that can happen amidst the market’s expectations for the subsequent rate of interest minimize and may probably have an effect on the worth of Bitcoin and the crypto market’s trajectory.
Bitcoin Is Trading Above $68,000
At the second of writing this text, BTC is buying and selling above $68,000, up by round 0.3% up to now 24 hours.
Earlier, Bitcoin reached costs above $69,000, an vital degree that has been not seen since June. The present BTC rally kicked off final week, on October 14, when BTC debuted a worth surge from across the $62,000 ranges.
The newest BTC rally has been fueled by a number of elements together with a constant stream in BTC ETFs within the US, whale accumulation, and the rising odds of a Trump win within the upcoming US elections.
Crypto Market Outlook
The US election is progressively approaching and Trump’s help continues to rise. Now, in line with information from Polymarket he continues to guide Kamala Harris by 60.7% to 38.9%.
Greeks.live famous that the IV election cycle stays comparatively agency, with anticipated probabilities of a Trump Presidency which have already begun being priced in by the markets.
They additionally highlighted that Bitcoin’s main time period IVs have stabilized at 55% across the US elections, and this week represents alternative to put out some medium to long-term calls.
Regarding the crypto rate of interest market, the Bitfinex rate of interest market has been comparatively secure currently, with occasional 20% high-interest orders.
