Donald Trump

2024

Bitcoin

Reserve

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Important political and economic events this week could affect Bitcoin’s price trajectory.</li> 
 <li>BTC is now trading above $54,000.</li> 
</ul> 
<p>The crypto market kicks off a new week with lower confidence and an overbought state, according to the latest reports from Greeks.live.</p> 
<p>This week, the US Federal Reserve meeting will decide interest rates, and this event, alongside other macro data, a tech event, and politics, could affect Bitcoin and the general crypto market trajectory.</p> 
<h2 id="6-heavyweight-events-this-week-potentially-affecting-bitcoin">6 Heavyweight Events This Week Potentially Affecting Bitcoin</h2> 
<p>In a new post on X, Greeks.live highlights the most important events of the week that could affect the trajectory of Bitcoin’s price:</p> 
<ol> 
 <li>Apple’s new iPhone 16 series launches today.</li> 
 <li>US CPI for August will be released.</li> 
 <li>US Presidential candidates Kamala Harris and Donald Trump have their debate.</li> 
 <li>US initial jobless claims for the week data will be released.</li> 
 <li>ECB will announce the interest rate resolution.</li> 
 <li>US University of Michigan Consumer Sentiment for September will be released.</li> 
</ol> 
<p>All these important events can affect the overall crypto market trajectory.</p> 
<h2 id="crypto-market-outlook">Crypto Market Outlook</h2> 
<p>Greeks.live also <a href="https://x.com/GreeksLive/status/1832980350970241286" rel="nofollow" target="_blank">noted</a> that the crypto market is weak and investor confidence is very low. All major-term IVs have rallied with short and intermediate-term IVs seeing more significant rallies. According to them, options trading focuses on this week’s Fed rate cut meeting.</p> 
<p>At the moment, short and medium-term IVs are at yearly lows.</p> 
<p>The Bitfinex interest rate market recently recorded a lot of high interest rate orders, and finding the right interest rate orders can be actively traded, according to Greeks.live.</p> 
<h2 id="bitcoin-trades-above-54-000">Bitcoin Trades Above $54,000</h2> 
<p>Regarding the price of Bitcoin today, the most important digital asset is trading above $54,000, down by 1% today.</p> 
<p>After trading at $53,000 yesterday, BTC has been seeing increased volatility in the past 24 hours.</p> 
<figure id="attachment_50066" aria-describedby="caption-attachment-50066" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-51.jpeg"><img loading="lazy" decoding="async" class="wp-image-50066 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1D_graph_coinmarketcap-51.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Above $54K - 6 Events This Week Potentially Affecting BTC 10"></a>
 <figcaption id="caption-attachment-50066" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>BTC has been down by almost 4% in the past seven days, and it seems that its <a href="https://crypto.ro/en/news/10-years-of-seasonality-suggest-bearish-bitcoin-price-action-in-september-can-2024-be-different/">seasonality</a> is still ongoing in 2024 as well. BTC kicked off September at prices above $58,000.</p> 
<p>But, it still remains to be seen how the week’s events might affect the price of BTC.</p>

Bitcoin Price Above $54K – 6 Events This Week Potentially Affecting BTC

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