Bitcoin (BTC) is surging towards unprecedented levels, currently hitting $107,195. The current week is pivotal for the cryptocurrency sector as critical developments loom on the horizon. Additionally, the impending transition for Trump could inject further volatility into the crypto markets in the next few hours.
What Major Events Are Coming This Week?
How Will Economic Data Affect Cryptocurrency Prices?
This week marks the last Federal Reserve meeting of the year, where significant interest rate decisions are expected. Recent easing in inflation concerns has put investors at ease, contributing to rising asset prices. The spike in inflation seen in October appears to be calming based on November’s figures.
Several key economic events are scheduled:
December 17, Tuesday
- 16:30 US Retail Sales (Expectation: 0.5% Previous: 0.4%)
- 17:15 US Industrial Production (Expectation: 0.3% Previous: -0.3%)
- RLUSD Begins Trading on Global Exchanges
- NEAR Announcement
December 18, Wednesday
- 22:00 Fed Interest Rate Decision (Expectation: 25bp Cut)
- 22:00 Fed Economic Projections Summary
- 22:30 Fed Chair Powell to Speak
- Hong Kong Stablecoin Law to be Presented to Congress
While 13 different developments unfold, surprises are also on the table. Trump’s cryptocurrency-related announcements and the potential appointment of the CFTC Chair could be pivotal. Furthermore, Fed Chair Powell’s remarks may hint at a possible pause in interest rate reductions.
- Bitcoin’s current status above $106,000 suggests volatility for altcoin investors.
- Upcoming economic data releases could impact market sentiment significantly.
- Powell’s insights may shape expectations regarding future interest rate policies.
The cryptocurrency landscape is poised for significant movement as RLUSD prepares for trading. The ongoing fluctuations in Bitcoin’s value could lead to heightened activity, particularly with XRP Coin, as market participants brace for a week filled with critical developments.