Key Economic Data to Influence Crypto Market This Week

  • From October 21 to 25, the US economy is scheduled to witness critical events.

  • The initial jobless claims data, Michigan Consumer Sentiment Index & Consumer Inflation Expectations reports are crucial.

  • Traders and investors await to see these events’ impact on the crypto market.

Key economic data releases this week, including housing market figures and jobless claims, are expected to  influence the crypto market. With Bitcoin hovering around $68,000 and Ethereum at $2,700, traders are anticipating potential price swings as these reports offer insights into the health of the US economy.

The crypto market has been relatively positive despite some volatility.  The upcoming US election in November is another factor that could drive significant market movements in the coming weeks.  Crypto commentator The Kobeissi Letter took to X on October 20 to highlight the importance of this week’s economic calendar.

Key Events This Week:

1. Existing Home Sales data – Wednesday

2. Initial Jobless Claims data – Thursday

3. New Home Sales data – Thursday

4. September Durable Goods Orders data – Friday

5. MI Consumer Sentiment data – Friday

6. ~15% of S&P 500 companies report ear…

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