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Bitcoin Price Near $64K – Top 7 Events This Week Potentially Affecting BTC • crypto.ro


Key Points

  • Important economic data and key speeches this week could influence Bitcoin’s price.
  • BTC is now trading near $64,000.

The promise of a September US interest rate cut brought a lot of confidence to the market, triggering a rally for Bitcoin and the broader crypto market.

At the moment of writing this article, Bitcoin is trading near $64,000, after hitting prices close to $65,000 earlier today.

BTC price in USD today
BTC price in USD today

Last week’s speech from Federal Reserve’s chair, Jerome Powell, at the annual meeting of global central banks in Jackson Hole made it clear that interest rate cuts will come in September.

There is now a greater consensus for a 25Bp cut, and there’s also the possibility of a 50Bp cut if economic data is under pressure this month, according to the latest reports from Greeks.live.

Important economic data this week and key speeches from significant figures revolving around the upcoming September rate cut can affect the price of Bitcoin.

Top 7 Heavyweight Events of the Week

Here are the most important events and speeches this week that could potentially affect Bitcoin, according to data from Greeks.live:

  1. 2024 FOMC Voter and San Francisco Fed President, Mary C. Daly, will speak on Tuesday. (August 27)
  2. Fed Governor, Christopher J. Waller, will speak on Wednesday. (August 28)
  3. 2024 FOMC Voter and Atlanta Fed President, Raphael Bostic, will speak on the economic outlook. (August 28)
  4. The US initial jobless claims for the week are set to be released. (August 29)
  5. The US core PCE price index annualized rate for July is set to be released. (August 30)
  6. The US final University of Michigan consumer confidence index for August will be revealed. (August 30)
  7. Russia will reportedly begin enforcing digital currency cross-border payments law and crypto mining legalization bill. (August 30)

Crypto Market Outlook

Crypto markets rallied last week, triggered by expectations of a rate cut, and the market confidence has been restored, as IVs continue to fall across major terms.

As Greeks.live notes, IV is currently slightly below average and it remains under downward pressure this week.

According to their data, Ethereum continues to slump and now Gas is below 0.8 Gwei. Also, ETH consumption is massively lower which leads to a deflationary flywheel failure, and, at the moment, there is no chance of a rebound in the ETH exchange rate, while the bearish ratio reportedly spreads.

Also, the Bitfinex interest rate market is relatively calm, and finding the right interest rate orders can be actively traded, especially when the market is attention-worthy.



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