Bitcoin Traders Brace for These 4 Key Macro Events This Week

Here are the four major events likely to matter the most for BTC and the broader crypto market for the week ahead.

Although it will probably not be as impactful as the previous one (or the next), the current business week will still outline several important US economic releases that could move the crypto market in either direction.

Services activity, the latest Fed minutes, which are perhaps the most anticipated piece of news, jobless claims, and consumer sentiment will all offer fresh clues about growth and the path of interest rates at the end of this otherwise very eventful month.

FOMC Minutes and Services PMI

The first more notable release arrives today when the Institute for Supply Management publishes its September Services PMI. The sector represents the largest part of the US economy. As such, the report can materially affect expectations for growth and inflation.

A surprisingly strong reading could revive concerns that the economy remains hot enough to tolerate higher rates, especially if price pressures inside the survey remain elevated. In contrast, a weaker reading could further reinforce the argument for the Fed to pause the hikes, especially after last week’s PCE data and jobs report.