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3 Things That Could Impact Crypto Markets in Week Ahead

Crypto markets tanked last week but have made a minor recovery over the weekend. The week ahead could boost this rebound if rate cut odds increase again. Last week’s US jobs report showed stronger-than-expected growth, but December rate cut odds have fallen below 70%, down from 90% one month ago.

US AI and tech stocks tanked in tandem with crypto markets. Meanwhile, the Trump administration’s Department of Government Efficiency (DOGE) has been shut down and “no longer exists,” according to officials.

“As the US government reopens, tons of backlogged economic data is being rolled out,” said the Kobeissi Letter.

Economic Events Nov. 24 to 28

November wraps up with a holiday-shortened week due to Thanksgiving on Thursday and Black Friday. This week, the US government will continue to work through a data backlog following the resolution of the shutdown earlier this month.

A delayed September Producer Price Index (PPI) report is due on Tuesday. The data provides input costs for producers and manufacturers, which relate to the costs of consumer goods and retail prices. It is a leading inflation indicator that is keenly watched by investors and analysts.

Tuesday will also see September retail sales data, November CB consumer confidence data, and October pending home sales data.

Third-quarter GDP data is due on Wednesday, alongside September’s Personal Consumption Expenditures (PCE) report. This data reflects the average amount of money consumers spend monthly and is used by Fed policymakers as a primary gauge of inflation.

The Fed’s “Beige Book,” or summary of current economic conditions, is also due Wednesday, a raportat the WSJ.

Crypto Market Outlook

Crypto markets have “become such a proxy for speculation,” and last week’s sell-off can’t be viewed in isolation, wrote Interactive Brokers’ chief strategist Steve Sosnick.

Total market capitalization had reclaimed the key $3 trillion level during early trading in Asia on Monday morning. However, markets remain down 32% from their October peak.

Bitcoin briefly tapped $88,000, showing a steady weekend recovery from its dump to $82,000 on Friday, but the asset remains down 30% from its all-time high. Most of those losses have come over the past fortnight.

Ethereum’s recovery has been weaker, with the asset failing to make any progress above $2,850, while the altcoins remain mostly battered.

Postul 3 Things That Could Impact Crypto Markets in Week Ahead a apărut prima dată pe CryptoPotato.


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