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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Key data this week could affect Bitcoin’s price.</li> 
 <li>BTC is trading above $57,000 today.</li> 
</ul> 
<p>Important economic data set to be released this week, along with important speeches could affect the price of Bitcoin and the overall trajectory of the crypto market.</p> 
<p>These events include unemployment and non-farm payrolls ahead of a key meeting of the US Fed later this month that will decide on potential interest rate cuts.</p> 
<p>According to data shared via X by Greeks.live, looking at the current trading data, there is a 70% probability of a 25Bp rate cut and a 30% probability of a 50Bp if there’s more pressure on economic data in September.</p> 
<h2 id="top-6-events-potentially-affecting-bitcoin-s-price">Top 6 Events Potentially Affecting Bitcoin’s Price</h2> 
<p>Here are the <a href="https://x.com/GreeksLive/status/1830433717606809667" rel="nofollow" target="_blank">heavyweight events</a> of the week, according to data from Greeks.live:</p> 
<ol> 
 <li>Bank of Canada will announce the interest rate resolution.</li> 
 <li>US initial jobless claims for the week will be revealed.</li> 
 <li>The US <a href="https://www.investing.com/economic-calendar/adp-nonfarm-employment-change-1" rel="nofollow noopener" target="_blank">ADP employment data</a> for August is set to be released.</li> 
 <li>The US Fed will release the beige book on economic conditions.</li> 
 <li>The US unemployment rate for August will be revealed.</li> 
 <li>US Fed official speeches will take place this week.</li> 
</ol> 
<p>All the economic data mentioned above can affect the trajectory of Bitcoin’s price.</p> 
<h2 id="bitcoin-trades-above-57-000">Bitcoin Trades Above $57,000</h2> 
<p>At the moment of writing this article, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> is trading above $57,000, down by almost 1% in the past 24 hours.</p> 
<figure id="attachment_49721" aria-describedby="caption-attachment-49721" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-49.jpeg"><img loading="lazy" decoding="async" class="wp-image-49721 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-49.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Top 6 Events This Week Potentially Affecting Bitcoin Price 15"></a>
 <figcaption id="caption-attachment-49721" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>The weak crypto market is not a surprise as, according to previous historical data, September has always been more pessimistic.</p> 
<p>Bitcoin recorded price drops between 2% and 19% during previous years.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/Mysteryofcrypt/status/1830226735545118945/photo/2" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GWZE_CqXUAEWXJS?format=jpg&amp;name=4096x4096" alt="Bitcoin historical data" width="2628" height="1398" title="Top 6 Events This Week Potentially Affecting Bitcoin Price 16"></a>
 <figcaption class="wp-caption-text">
  Bitcoin historical data
 </figcaption>
</figure> 
<p>Now, BTC kicked off September with a 1.27% price drop according to official data.</p> 
<h2 id="crypto-market-outlook">Crypto Market Outlook</h2> 
<p>The crypto market is weak at the beginning of this month, and investor confidence is severely low, with IVs relatively stable across all major terms.</p> 
<p>Also, mid to long-term IVs continue to fall back slightly and the short-term IVs see a rebound. Options trading moves closer to the US election, with options IV for November 8 expiration significantly higher than other terms.</p> 
<p>Regarding the crypto interest rate market, the Bitfinex interest rate market is relatively calm, and the right interest orders can be actively traded.</p>

Top 6 Events This Week Potentially Affecting Bitcoin Price

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