Original title: Top 10 Events That Could Affect Bitcoin Price Trajectory This Week: October 21-25
Original author: Rada Mateescu
Original source: https://crypto.ro/
Compiled by: Mars Finance, Daisy
Top 10 events that could impact Bitcoin price action this week (October 21-25)
Bitcoin opened the week above $69,000, with upcoming economic events worth watching including meetings of the International Monetary Fund (IMF) and the World Bank.
Key points:
Important economic events this week ahead of the U.S. election could influence Bitcoin’s performance.
Bitcoin is currently trading above $68,000, having earlier breached $69,000.
With less than three weeks to go before the important US election, multiple economic events this week may affect the trend of Bitcoin and the crypto market.
Top 10 Events That Could Impact Bitcoin Price
In a recent post via X, Greeks.live outlined the most important upcoming events to watch out for that could change the trajectory of Bitcoin:
Dallas Fed President Lori K. Logan will speak at the 2024 Securities Industry and Financial Markets Association (SIFMA) Annual Conference. (October 21)
Kansas City Fed President Jeffrey Schmid will speak on the economic outlook and monetary policy. (October 22)
The International Monetary Fund (IMF) will release the (World Economic Outlook) report. (October 22)
The Bank of Canada will announce its interest rate decision and monetary policy report. (October 23)
ECB President Christine Lagarde will speak on the European economic outlook. (October 23)
IMF-World Bank Annual Meeting will be held. (October 23)
Bank of Japan Governor Kazuo Ueda will speak at an IMF-sponsored governors' meeting. (October 24)
The Federal Reserve will release its Beige Book on economic conditions. (October 24)
The U.S. initial jobless claims report will be released. (October 24)
The final value of the University of Michigan Consumer Confidence Index for October will be released. (October 25)
All of these economic events will occur against the backdrop of markets anticipating the next rate cut and could impact the direction of Bitcoin prices and the crypto market.
**Bitcoin trades above $68,000
At the time of writing, BTC is trading above $68,000, up around 0.3% over the past 24 hours.
BTC price in USD today
Previously, the price of Bitcoin had surpassed $69,000, a significant level not seen since June. The current Bitcoin rally began last week, October 14, surging from around the $62,000 level.
The current Bitcoin rally was driven by a variety of factors, including continued inflows into U.S. Bitcoin ETFs, the accumulation of a large number of whale accounts, and an increased chance of Trump winning the upcoming U.S. election.
Crypto Market Outlook
As the US election approaches, Trump's approval rating continues to rise. According to Polymarket data, he leads Kamala Harris with 60.7% to 38.9%.
Polymarket
Greeks.live pointed out that the current implied volatility (IV) cycle related to the US election remains relatively stable, and the market has begun to reflect the possibility of Trump being elected president in the price.
They also emphasized that Bitcoin's main long-term implied volatility has stabilized at around 55% during the US election, and this week is a good opportunity to deploy medium- and long-term options.
Regarding the crypto interest rate market, Bitfinex's interest rate market has been relatively stable recently, with occasional high-interest orders of 20%.
