The week of October 7-13, 2024 promises to be eventful, with potential to significantly impact global financial markets, including cryptocurrencies. Attention will be focused on the release of economic data from the US, token unlocks, and blockchain conferences.
1. Publication of the FOMC meeting minutes
The minutes of the latest meeting of the US Federal Open Market Committee (FOMC) will be released on October 9. Investors are expecting the document to shed light on future changes in US monetary policy. Any hints of further tightening could put pressure on cryptocurrencies, which are usually affected by rising interest rates.
2. Inflation in the US - CPI data
On October 10, the Consumer Price Index (CPI) for September will be released. This data may have a significant impact on the dollar and cryptocurrency exchange rates. A slight increase in inflation of 0.1% is expected, which, depending on the result, may either support the markets or cause a new wave of volatility.
3. Token unlocks and events in the cryptosphere
Among cryptocurrency events, major token unlocks stand out. In particular, $OP and $APT. The release of a large volume of tokens to the market can put pressure on their price, increasing the risk of a short-term decline. This event will require increased attention from traders, especially those who have already invested in these assets.
4. Merge Madrid Conference
On October 8, a major crypto conference, Merge Madrid, will take place, which will bring together representatives of leading projects such as XRP and LINK. This event may attract the attention of investors and influence their assessment of these assets. It is likely that volatility of these tokens can be expected after the conference.
This week will be full of important events that could impact both traditional financial markets and cryptocurrencies. The publication of inflation data, FOMC minutes, and large token unlocks will create high volatility and opportunities for active trading.
