Key Points
- Important economic events this week ahead of the US elections could affect Bitcoin’s trajectory.
- BTC is currently trading above $68,000, after earlier surpassing $69,000.
Multiple economic events of the current week could affect Bitcoin and the crypto market’s trajectory, less than 3 weeks ahead of the important US elections.
Top 10 Events Potentially Affecting BTC Price
In a recent post via X, Greeks.live addressed the most important upcoming events worth watching that could alter BTC’s trajectory:
- The Dallas Fed President Lorie K. Logan will speak at the 2024 Securities Industry and Financial Markets Association of America (SIFMA) annual meeting today. (October 21)
- The Kansas Fed President Jeffrey Schmid will speak on the outlook for the economy and monetary policy. (October 22)
- The IMF will publish the Global Economic Outlook report. (October 22)
- Bank of Canada will announce the interest rate resolution and monetary policy report. (October 23)
- ECB President Christine Lagarde will speak on the European economic outlook. (October 23)
- IMF-World Bank annual meeting will take place. (October 23)
- The Bank of Japan’s Governor Kazuo Ueda will speak at the IMF-sponsored Governors’ Meeting. (October 24)
- The Federal Reserve in the US will release its Brown Book on economic conditions. (October 24)
- US initial jobless claims for the week will be released. (October 24)
- The US final University of Michigan consumer confidence index for October will be released. (October 25)
All these are important economic events that will take place amidst the market’s expectations for the next interest rate cut and might potentially affect the price of Bitcoin and the crypto market’s trajectory.
Bitcoin Is Trading Above $68,000
At the moment of writing this article, BTC is trading above $68,000, up by around 0.3% in the past 24 hours.
Earlier, Bitcoin reached prices above $69,000, an important level that has been not seen since June. The current BTC rally kicked off last week, on October 14, when BTC debuted a price surge from around the $62,000 levels.
The latest BTC rally has been fueled by multiple factors including a consistent flow in BTC ETFs in the US, whale accumulation, and the rising odds of a Trump win in the upcoming US elections.
Crypto Market Outlook
The US election is gradually approaching and Trump’s support continues to rise. Now, according to data from Polymarket he continues to lead Kamala Harris by 60.7% to 38.9%.
Greeks.live noted that the IV election cycle remains relatively firm, with expected chances of a Trump Presidency that have already begun being priced in by the markets.
They also highlighted that Bitcoin’s major term IVs have stabilized at 55% around the US elections, and this week represents a good opportunity to lay out some medium to long-term calls.
Regarding the crypto interest rate market, the Bitfinex interest rate market has been relatively stable lately, with occasional 20% high-interest orders.
