CandleFocus 4 Things That May Move Bitcoin’s Price This Week
2024-10-14
Author: Content Editor
The crypto markets have experienced low volatility over the weekend, but that may change soon. Retail sales and manufacturing reports set to be released this week could indicate economic conditions and potential inflationary trends. The Federal Reserve, election, geopolitical tensions, and earnings are also in focus. The FOMC minutes revealed support for a 0.5% rate reduction, and markets are now pricing in a 0.25% interest rate cut in November. Retail sales have been declining for five months, and September's Industrial Production report will provide insight into economic growth. Homebuilder confidence and remarks from Fed officials are also expected this week. Despite the lack of movement, Bitcoin briefly reached $64,000, and Ethereum traded around $2,460. Most altcoins saw minimal gains.
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