Crypto Outlook: Top 5 Market Events to Watch this Week

This week is shaping up to be a real spectacle, with a lineup of significant events on the economic front. All eyes are on the economic calendar and key figures at the Federal Reserve, whose words could hold sway over the crypto markets.

Are you excited? Dive in to discover what the 7 days ahead have in store for you.

Events to Watch

Monday, 27th November: Our week begins with the much-anticipated release of new home sales data on Monday. Analysts are predicting a possible dip from the strong figure of 759,000 in October 2023.

Tuesday, 28th November: Tuesday packs a punch with the release of monthly consumer confidence data, offering valuable insights into overall economic activity. At the same time, three Federal Reserve governors—Christopher Waller, Michelle Bowman, and Michael Barr—are set to discuss monetary policy and the economy.

As the week unfolds, attention turns to the unveiling of third-quarter gross domestic product (GDP) data, with expectations of it remaining unchanged from the previous quarter.

Thursday, 30th November: Thursday brings the release of Personal Consumption Expenditures (PCE) inflation data, forecasting a slight decline—a signal of the ongoing economic recovery.

Friday, 1st December: Bringing the week to a close on Friday, we look forward to the release of ISM manufacturing data, coupled with a significant speech from Fed Chair Jerome Powell.

The Market is Buzzing!

Shifting gears to the crypto market, even though this week’s economic events may not trigger major movements, the growing investor sentiment is putting the spotlight on high-risk assets, particularly cryptocurrencies.

Over the weekend, total market capitalization reached its highest level since early May 2022, nearing the $1.5 trillion mark. Currently, Bitcoin is trading at $37,290, experiencing a 1.3% drop in the past 24 hours, as per the latest Coinpedia news report.

Meanwhile, investors and traders are keenly tuned in to events that could influence broader economic sentiments. The strengthening investor sentiment further amplifies the allure of high-risk assets, creating a buzz that resonates throughout the crypto space.