A Quiet Macro Week? These US Events Could Still Spark Bitcoin Volatility

Perhaps the most notable event in the following days would be the Federal Reserve minutes release of the 28-29 July FOMC meeting.

The new business week has started on the right foot, as after a highly dull and sluggish weekend, bitcoin has finally charted a minor increase to $63,500. The following days have some important macro events in the United States that can further impact the market, albeit not as notable as the CPI data from last week or the actual FOMC meetings.

Although the calendar is considerably lighter, the Federal Reserve will return to the spotlight as investors attempt to determine what comes next for interest rates and the September meeting.

Fed Minutes in Focus

CryptoPotato reported at the end of July that the US Fed maintained the interest rates unchanged for a fifth consecutive meeting, even though this one was the most uncertain since the COVID-19 outbreak in early 2020. The decision, though, exposed a growing divide among policymakers, as three officials favored a rate hike.

Consequently, investors are now expecting the minutes for additional details about the central bank’s concerns over inflation and whether more policymakers will join the call for higher rates in the coming months. Risk assets like cryptocurrencies tend to be affected the most by the Fed’s plans as expectations for tighter monetary policy typically put pressure on speculative investments.