Core

Jerome Powell

Chair

Impact

Reserve

<p><a href="https://coinpedia.org/news/cryptocurrency-price-today-sept-23rd-2024-bitcoin-nears-65k-tao-leads-altcoin-gains-again/" target="_blank" rel="noreferrer noopener">Crypto markets</a> have been relatively stable after last week’s gains, largely due to the Federal Reserve’s decision to cut interest rates by 0.5%. As we head into the new week, a <a href="https://www.federalreserve.gov/newsevents.htm" target="_blank" rel="noreferrer noopener nofollow">series of key economic events</a> could influence the crypto market, making it an important time for investors to pay attention.</p>   
<h3 class="wp-block-heading" id="h-sept-23-manufacturing-and-services-pmi"><strong>Sept 23: Manufacturing and Services PMI</strong></h3>   
<p>On September 23, the Purchasing Managers' Index (PMI) data for manufacturing and services will be released. PMI measures the health of these sectors, and a reading above 50 indicates growth in these sectors. Meanwhile, if the report shows strong expansion, it could have a positive effect on Bitcoin and other risk assets, suggesting economic growth.</p>   
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<h3 class="wp-block-heading" id="h-sept-24-consumer-confidence-amp-sentiment-reports"><strong>Sept 24: Consumer Confidence &amp; Sentiment Reports</strong></h3>   
<p>The consumer confidence report will come out on Sep 24, followed by the consumer sentiment report on Friday. Both surveys measure how positive or negative people feel about the economy.</p>   
<p>If these reports show that people are more confident, it could mean they are more willing to spend. This boost in optimism might also help speculative assets like Bitcoin.</p>   [post_titles_links postid="354296"]   
<h3 class="wp-block-heading" id="h-sept-26-q2-gdp-amp-jobless-claims"><strong>Sept 26: Q2 GDP &amp; Jobless Claims</strong></h3>   
<p>On September 26, all eyes will be on the release of the updated Q2 GDP report, a crucial economic indicator for the week. The previous report in July showed a 2.8% growth, which was a significant improvement over the 1.4% rise in the earlier quarter.</p>   
<p>Meanwhile, a positive GDP figure could strengthen confidence in the U.S. economy, potentially benefiting Bitcoin as investors look for alternative assets.</p>   
<p>Additionally, the weekly jobless claims data will be released on Thursday. Last week’s claims were 219,000, lower than expected, but this <a href="https://www.investing.com/economic-calendar/initial-jobless-claims-294" target="_blank" rel="noreferrer noopener nofollow">week’s forecast predicts a rise to 224K</a></p>   
<h3 class="wp-block-heading" id="h-sept-26-jerome-powell-s-speech"><strong>Sept 26: Jerome Powell’s Speech</strong></h3>   
<p>Federal Reserve Chair Jerome Powell is set to give a speech on September 26. After the recent inflation data and the <a href="https://coinpedia.org/news/fed-chair-powells-time-has-come-for-rate-cut-fuels-crypto-rally/" target="_blank" rel="noreferrer noopener">0.5% interest rate cut</a> by the Federal Open Market Committee, markets are eager to hear what Powell has to say.&nbsp;</p>   
<p>His comments could play a key role in shaping market sentiment potentially impacting the crypto market as well. Besides Powell, other Fed officials will also speak throughout the week.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-sept-27-core-pce-inflation-report"><strong>Sept 27: Core PCE Inflation Report</strong></h3>   
<p>On September 27, the Core PCE (Personal Consumption Expenditures) inflation report will be a major focus. This index is a key measure of consumer spending and inflation, with analysts expecting a 0.2% rise for the month and a 2.7% increase compared to last year.&nbsp;</p>   
<p>If the actual PCE inflation is lower than expected, it could increase the chances of more interest rate cuts, which would be good news for Bitcoin</p>   
<h2 class="wp-block-heading" id="h-impact-on-the-crypto-market">Impact On the Crypto Market</h2>   
<p>The crypto market has remained stable over the past day, with <a href="https://coinpedia.org/news/bitcoin-jumps-to-a-one-month-high-of-65661-while-japan-yen-falls-badly/" target="_blank" rel="noreferrer noopener">Bitcoin trading near $65,000</a> and total market capitalization at $2.31 trillion. However, the outcome of this week’s economic events could trigger volatility across the market.</p>

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