Ethereum

FOMC

Core

Bitcoin

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-traders-prepare-for-economic-insights" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Traders Prepare for Economic Insights</a><br></p>
<p style="text-align: justify">This week, the cryptocurrency derivatives market exhibits a careful attitude as it braces for significant economic indicators, including the forthcoming FOMC minutes and the PCE inflation figures for October. Experts caution that these upcoming reports will deliver vital information about inflation trends and the potential for interest rate reductions in December, shaping market expectations.</p>
<h2 style="text-align: justify" id="strong-what-are-bitcoin-and-ethereum-doing-strong"><strong>What Are Bitcoin and Ethereum Doing?</strong></h2>
<p style="text-align: justify">Currently, a prevailing sense of caution characterizes the cryptocurrency landscape. Instead of surging towards the anticipated 100,000-dollar mark, <a href="https://en.bitcoinhaber.net/analysts-predict-bitcoins-next-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has dipped below 93,000 dollars. Market analyst Valentin Fournier has commented, “The market is consolidating, with expectations for Bitcoin to find support around 95,000 dollars before rallying.”</p>
<h2 style="text-align: justify" id="strong-how-will-economic-data-impact-cryptocurrencies-strong"><strong>How Will Economic Data Impact Cryptocurrencies?</strong></h2>
<p style="text-align: justify">As the FOMC minutes are released, they are expected to shed light on the Federal Reserve’s interest rate strategies and overall economic assessment. The upcoming Core PCE inflation figures are projected to show a monthly uptick of 0.3%. According to CME’s FedWatch tool, there is a 59.4% chance of an interest rate cut in December, compared to a 40.6% probability of rates staying the same.</p>
<p style="text-align: justify">Key takeaways from the current market situation include:</p>
<ul>
 <li>Bitcoin is currently consolidating, with support expected around 95,000 dollars.</li>
 <li>Ethereum’s price has fallen over 5% recently, signaling increased caution among traders.</li>
 <li>Economic data this week will significantly influence market sentiment regarding interest rates and inflation.</li>
</ul>
<p style="text-align: justify">In this pivotal week, traders are closely monitoring economic indicators that could direct short-term market trends and impact both Bitcoin and Ethereum prices significantly.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/crypto-traders-prepare-for-economic-insights" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Traders Prepare for Economic Insights</a></h5>

Crypto Traders Prepare for Economic Insights

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