With cryptocurrencies experiencing a significant decline of nearly 30% from their March highs, the upcoming week features several critical events that could have a major impact on both crypto and traditional markets.
On September 10, the U.S. presidential debate between Kamala Harris and Donald Trump is expected to draw attention. Both candidates have recently shown an increased interest in cryptocurrencies, with Trump taking a positive stance and Harris having connections with industry leaders. This debate could introduce new insights or uncertainties about the future of digital assets.
The following day, September 11, will see the release of the U.S. Consumer Price Index (CPI) report for August. This report is crucial as it reveals price changes that influence economic decisions. The July CPI report showed a 0.2% increase from the previous month and a 2.9% rise compared to the previous year. Analysts anticipate a slight increase in August’s CPI, which could impact the Federal Reserve’s interest rate decisions and, consequently, both traditional and crypto markets.
On September 12, the U.S. will also release its Producer Price Index (PPI) report, which measures changes in prices for goods before they reach consumers. The July PPI report showed a 2.2% increase year-over-year, a slight decrease from June’s 2.7%. Analysts expect further easing of inflation pressures in August.
Additionally, the Initial Jobless Claims report will be published on the same day, tracking the number of unemployment benefit applications. The latest data revealed a drop to 227,000 claims, lower than the anticipated 230,000. This information provides insight into the overall job market and economic health, which could also influence the cryptocurrency market.
As these events unfold, they could create both opportunities and challenges for the cryptocurrency market.
On September 18, during an interview at Token2049, Alex Svanevik, CEO of blockchain analytics firm Nansen, shared his insights on the potential impact of the 2024 U.S. presidential election on the cryptocurrency landscape.
Federal Reserve meetings usually follow a predictable pattern, but this week’s Federal Open Market Committee (FOMC) gathering was shrouded in uncertainty.
Donald Trump and his sons launched their DeFi project, World Liberty Financial (WLFI), during a lengthy X Spaces session on Monday, but the event fell short of expectations.
The Swiss Stock Exchange, SIX, is setting its sights on the digital asset market by establishing a foothold in Europe for cryptocurrency trading.