Greed

FOMC

bullish

Cardano

Jerome Powell

Global financial markets are bracing for another hectic week, as a series of major US economic events are ready to move them all. This major week comes after Donald Trump’s Presidential election win and FOMC rate decision. 
A bullish momentum among investors after the Trump win left Bitcoin (BTC) to breach the $81,000 mark for the first time in history. The upward rally was not limited to BTC only, as major altcoins like Dogecoin (DOGE) and Cardano (ADA) jumped by 87% and 73% in the last 7 days. It is expected that key events lined up for this week, CPI Inflation data and Fed Chair Powell’s speech, can shake the traders’ sentiment. 
<h3 id="span-style-font-weight-400-cpi-ppi-in-focus-span">CPI, PPI in focus</h3> 
<a href="https://x.com/KobeissiLetter/status/1855605434335584648" rel="nofollow" target="_blank">The week</a> will begin with the release of the OPEC Monthly Report on Tuesday, followed by the US October <a href="https://www.cryptopolitan.com/bitcoin-sellers-could-get-rekt-by-cpi/">CPI inflation data</a>. Fed Chair Jerome Powell will release the data on Wednesday (November 13). With inflation easing, expectations are for a drop in both headline by 0.2% and core 0.3% CPI. This could stall the Fed’s rate cuts and impact BTC’s rally. 
Last month CPI came out to be 2.4%, down from previous highs. This reflects a steady inflation cooldown and a hotter-than-expected CPI data would signal persistent inflation. 
On Thursday (November 14), the Labor Department will release initial <a href="https://www.cryptopolitan.com/us-jobless-claims-increase-for-ninth-week/">jobless claims</a>. With jobless claims ticking up slightly to 221,000 last week, the Fed’s recent rate cuts reflect worries over a weakening job market. It is a critical indicator of US employment health and higher claims might indicate a recession risk. However, fewer claims signal economic stability. 
Friday’s (November 15) PPI report will shed light on producer-level inflation in the region. A spike here means rising production costs which can impact energy and hardware expenses for crypto mining. Meanwhile, a Higher PPI could be bearish for BTC and the market. 
Retail sales data is expected to come on the same day. It will reveal consumer spending trends and a strong retail report will suggest economic resilience. As per the forecast, a 0.3% rise in October will signal a steady consumer demand. 
<h3 id="span-style-font-weight-400-bitcoin-options-skyrocket-span">Bitcoin Options skyrocket</h3> 
With crypto markets closely linked to macro trends, each data release brings potential swings. <a href="https://www.cryptopolitan.com/bitcoin-surges-past-80000-as-the-bull-run-continues/">Bitcoin</a> went on to hit back to back fresh all-time highs of above $81,000, fueled by a wave of pro-crypto candidates securing victories in the US elections. Futures premiums are soaring hinting a strong investor confidence in the market. 
The Fear and Greed index depicts “Extreme Greed” with 76 points in the market. The global crypto market cap jumped by another 2% over the last day to stand at $2.76 trillion. Its 24 hour trading volume spiked by 71% to hit $228 billion. 
Open interest for Bitcoin futures surpassing $90,000 on Deribit surged to over $2.8 billion. CME futures premiums for BTC and ETH hit 14% post-election, doubling from pre-election levels. This jump shows high demand for call options which is clearly a bullish stance.&nbsp; 
<a href="https://www.cryptopolitan.com/bitcoin-surges-past-80000-as-the-bull-run-continues/">Bitcoin price</a> is up by 18% in the last 7 days. BTC is trading at an average price of $81,159, at press time. It’s 24 hour trading volume is up by 65% to stand at $77.9 billion.

All eyes on CPI and Fed, Is a Bitcoin correction coming in?

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