Crypto markets have been experiencing a surge in recent days, but they are starting to cool down as this week begins. Despite this, the strong economic backdrop and anticipated policy changes under Donald Trump’s administration are promoting a positive outlook for crypto and tech stocks, especially those linked to artificial intelligence.
Various key economic events are scheduled this week, including the release of the November Consumer Confidence Index report and the Federal Open Market Committee meeting. The Q3 2024 GDP Growth Annualized report will also be released, along with the October Core Personal Consumption Expenditures (PCE) report, which serves as a primary inflation gauge for central bank policymakers.
Traditional markets will be closed on Thursday for the Thanksgiving holiday in the United States, but the crypto market remains active. Total crypto market capitalization has experienced a 3% drop from its record high, falling to $3.44 trillion during Monday’s Asian trading session. Bitcoin has dipped 2.5% since its All-Time High (ATH) of $99,645 on November 22nd but recovered to trade around $98,000 on Monday morning.
Ethereum has also experienced a slight retreat, with altcoins mostly in the red after strong gains over the past week. Near Protocol (NEAR) is the exception, with a 7.6% increase on the day, topping $7 for the first time since June.
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<p>The post Crypto Markets Cooling Down as Digital Assets Correct, Economic Events to Watch, and Thanksgiving Holiday for Traditional Markets first appeared on CoinBuzzFeed.</p>
