Upcoming Developments Impacting Cryptocurrency Markets

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As we do every week, we discuss significant developments expected in the coming days. The cryptocurrency markets have entered a new period following the election results in November. What important developments are awaiting us that could impact the markets in the upcoming days?

Key Developments in Cryptocurrency

It is possible to prepare for events that cause increased volatility. Cryptocurrency traders have observed how various critical data, from PMI figures to inflation indicators, have influenced market trends over the years. Below are the upcoming developments along with their dates and times.

Tuesday, November 26

• 22:00 Fed Minutes
• Starknet Staking Launch
• ADA Coin Unlocking ($19.7 Million)

Wednesday, November 27

• 16:30 US Unemployment Claims (Expectation: 217K Previous: 213K)
• US Durable Goods (Expectation: 0.5% Previous: -0.7%)
• US GDP (Expectation and Previous: 2.8%)
• 18:00 US PCE (Expectation: 2.3% Previous: 2.1%)

Forecast for Cryptocurrencies

The most critical period this week will begin with the release of the Fed minutes on Tuesday. The following day’s PCE figures and economic growth data will provide significant signals for the Fed meeting in December.

The likelihood of a 25bp rate cut is nearly 50%, and if Wednesday’s data is poor, it may indicate a halt in interest rate cuts, negatively impacting cryptocurrencies. Entering the December Fed meeting with expectations of a possible “pause in rate cuts” means that cryptocurrencies could face downward pressure until mid-month.

However, if the PCE data comes in strong and the Fed minutes suggest reaching the 2% target in the long term, BTC could reach new heights. BTC may surpass six figures next week, but many expect profit-taking to begin upon testing the $100,000 mark. If this scenario unfolds alongside billion-dollar exits from the ETF channel, altcoins may face challenging days ahead.

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