Three things to watch that may affect the cryptocurrency market next week: Learn about them
The cryptocurrency market declined last week before experiencing a slight recovery over the weekend, and next week may support this recovery if expectations for interest rate cuts improve, especially after the likelihood of a rate cut in December dropped from 90% to less than 70% following the release of U.S. jobs data.
The drop in cryptocurrencies coincided with a decline in technology and artificial intelligence stocks, while the Trump administration announced the closure of the Department of Government Efficiency (DOGE).
With the return of government institutions, accumulated economic data began to be released.
The week will see the release of a set of important indicators, most notably:
The Producer Price Index (PPI) for September, retail sales data, and consumer confidence, in addition to third-quarter GDP data and personal consumption expenditures.
The publication of the Federal Reserve's report is also anticipated.
In the cryptocurrency market, analysts described recent movements as part of a broad speculative wave.
The total market capitalization of the crypto market has regained the $3 trillion barrier, although it remains below its peak recorded in October.
The price of Bitcoin briefly rose above $88,000 after falling to $82,000, but it is still 30% away from its all-time high.
