Top 4 US Economic Events in Bitcoin’s Path to $110,000 This Week
Four key US economic events this week could significantly influence Bitcoin's trajectory toward $110,000, depending on market reactions.Summary
Bitcoin is showing strength, trading above $105,000 amid optimism that the US government shutdown may end. The cryptocurrency's path to $110,000 this week hinges on four major US economic signals. First, speeches by numerous Federal Reserve officials, including Chair Jerome Powell, whose recent comments signaling a balance sheet expansion (QE) excited crypto investors, will be closely watched for directional bias. Second, Initial Jobless Claims, a leading indicator of labor health, will be important; lower-than-expected claims signal economic strength (bearish for Bitcoin's rate-cut hopes), while higher claims suggest weakness (bullish). Third, the release of October Consumer Price Index (CPI) data, contingent on the shutdown ending, will reveal inflation trends; persistent inflation above the Fed's 2% target is mildly bearish for Bitcoin. Finally, Producer Price Index (PPI) data, also dependent on the government reopening, will provide insight into wholesale inflation. The resolution of the US government shutdown remains a critical factor affecting the release and impact of these events.
(Source：BeInCrypto)