{"id":172050,"date":"2024-09-23T16:05:59","date_gmt":"2024-09-23T16:05:59","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172050"},"modified":"2024-09-23T16:06:39","modified_gmt":"2024-09-23T16:06:39","slug":"this-weeks-u-s-economic-events-could-affect-crypto-market-here-are-the-details","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/this-weeks-u-s-economic-events-could-affect-crypto-market-here-are-the-details\/","title":{"rendered":"This Week\u2019s U.S. Economic Events Could Affect Crypto Market: Here are the Details"},"content":{"rendered":"<p><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/strong><\/p>\n<ul>\n<li style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin Holds Above $63,000 Ahead of Important US Economic Data<\/span><\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Reports on PMI, consumer confidence and GDP could influence BTC&#8217;s performance.<\/span><\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Federal Reserve speeches and PCE inflation data are key to market liquidity.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">As the last week of September begins, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">investors are keeping an eye on several economic events in the US that could impact the cryptocurrency market<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, particularly the price of <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/what-is-bitcoin\/\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin.<\/span><\/span><\/strong><\/a><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Currently, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin has remained strong, hovering above the $63,000 mark<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">. This has raised expectations about <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">how certain economic indicators may influence the volatility of the crypto market in the coming days.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">On Monday, Purchasing Managers Index (PMI)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> data for the manufacturing and services sectors will be released<\/span><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This index is a key barometer of economic health and a value <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">above 50 is anticipated to indicate expansion in both sectors<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">If the <strong>PMI<\/strong> comes in above projections, it could be interpreted as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a sign of economic growth<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, which could be positive for risk assets like <strong>Bitcoin.<\/strong><\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The consumer confidence<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> report will be released on Tuesday<\/span><span style=\"vertical-align: inherit\">, followed by the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">consumer sentiment<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> report on Friday.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Both studies provide insight into <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">citizens&#8217; economic prospects<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">. With inflation on the decline, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">consumer confidence has begun to rise<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, which could translate into increased spending.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This optimism could benefit Bitcoin, as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a higher risk appetite typically leads to increased investments in assets considered volatile but with high reward potential.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A key event will be the release of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">second-quarter gross domestic product (GDP)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> report, scheduled for Thursday.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The revised GDP figure, which previously showed <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">growth of 2.8%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, is crucial to understanding the state of the economy.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A robust GDP report could <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">cement consumer confidence in economic stability<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, which in turn could have a positive effect on the price of Bitcoin as many consider it <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">an alternative safe haven<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<h2><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-90899\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/09\/btc-market.jpg\" alt=\"US Economic Events This Week Could Impact Crypto Market: Here Are the Details\" width=\"825\" height=\"300\" \/><\/h2>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Federal Reserve and Crypto Market Outlook<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Federal Reserve Chairman Jerome Powell<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><strong>&#8216;s<\/strong> speech <\/span><span style=\"vertical-align: inherit\">will also be a focal point this week.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">He is expected to address <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">recent interest rate and inflation decisions<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Powell&#8217;s remarks will be closely scrutinized<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> as their content may influence market sentiment.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Additionally, Governor Michelle Bowman<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is expected to offer key remarks<\/span><span style=\"vertical-align: inherit\">, as her critical stance on <strong>Fed<\/strong> decisions has captured investors&#8217; attention.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Finally, the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Personal Consumption Price Index <\/span><\/span><a href=\"https:\/\/es.investing.com\/economic-calendar\/pce-price-index-906\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">(PCE)<\/span><\/span><\/a><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> report will be released on Friday.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This data is crucial for assessing <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">inflation trends<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and could have significant implications for monetary policy.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">If the PCE shows a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">smaller increase than expected<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, this could favor a decrease in interest rates, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">encouraging liquidity in financial markets<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and benefiting <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The combination of these economic events can create a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">volatile environment<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, where <\/span><strong><a href=\"https:\/\/crypto-economy.com\/cryptocurrencies-from-a-to-d\/\"><span style=\"vertical-align: inherit\">cryptocurrency<\/span><\/a><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> investors<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> must be prepared to adapt to upcoming <\/span><strong><span style=\"vertical-align: inherit\">market fluctuations.<\/span><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Bitcoin Holds Above $63,000 Ahead of Important US Economic Data Reports on PMI, consumer confidence and GDP could influence BTC&#8217;s performance. Federal Reserve speeches and PCE inflation data are key to market liquidity. As the last week of September begins, investors are keeping an eye on several economic events in the US that could &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"This Week\u2019s U.S. Economic Events Could Affect Crypto Market: Here are the Details\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/this-weeks-u-s-economic-events-could-affect-crypto-market-here-are-the-details\/#more-172050\" aria-label=\"More on This Week\u2019s U.S. Economic Events Could Affect Crypto Market: Here are the Details\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":172052,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9156,84,74],"tags":[4602,4620,5536,4656,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172050"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172050"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172050\/revisions"}],"predecessor-version":[{"id":172053,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172050\/revisions\/172053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172052"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}