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 <p>This week brings several pivotal economic events and data releases in the United States that stand to shape broader market sentiment. Adding further complexity is that Bitcoin has already begun retreating in the last 24 hours.</p>
 <p>Topping the schedule are Tuesday’s Consumer Price Index (CPI) readings. November’s report is expected to show core CPI holding at a year-over-year rise of 6%—a mild decline from 6.3% in October but still representing elevated price pressures.</p>
 <p><strong>Also read: Will Ethereum Flip Bitcoin in 2024? VanEck Weighs In</strong></p>
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    <p lang="en" dir="ltr">Key Events This Week:<br><br>1. November CPI Inflation data – Tuesday<br><br>2. OPEC Monthly Report – Wednesday<br><br>3. November PPI Inflation data – Wednesday<br><br>4. Fed Rate Decision and Statement – Wednesday<br><br>5. Retail Sales data – Thursday<br><br>6. Initial Jobless Claims – Thursday<br><br>Volatility is…</p>— The Kobeissi Letter (@KobeissiLetter) December 10, 2023
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 <p>Producer Price Index (PPI) numbers out Wednesday provide further clarity into inflationary conditions. However, the week’s focal point will be the Federal Reserve’s policy meeting, which wraps up the central bank’s final gathering of the year.</p>
 <h2 class="wp-block-heading" id="h-cryptocurrency-market-should-watch-for-fed-rate-changes">Cryptocurrency market should watch for FED rate changes</h2>
 <p>While no rate changes are imminent, Fed officials are seen reinforcing their latest messaging around rates potentially peaking below previous estimates.&nbsp;Thursday then brings November retail sales—a good litmus test of real U.S. spending activity.</p>
 <p>Within crypto markets, total capitalization shed almost 4% amid a broad market sell-off. The leading loss was Bitcoin (BTC), with the cryptocurrency dropping 3.8% to around $42,200 at press time.</p>
 <p>For crypto to reverse tentative downtrends, investors will want evidence of inflation cooling without recessionary forces. However, with economic uncertainty abounding, digital assets likely face significant risks.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/key-events-to-watch-for-bitcoin-this-week-tbt73464.html">https://thebittimes.com/key-events-to-watch-for-bitcoin-this-week-tbt73464.html</a></p>

Key Events to Watch for Bitcoin This Week

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TheBitTimes

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