U.S. government shutdown looms, creating uncertainty in crypto market
With the U.S. government shutdown on the horizons, the crypto market faces growing uncertainty amid key economic events, challenging traditional investment norms. Following the FOMC meeting on Sep.19, Bitcoin (BTC) and other cryptocurrencies face upcoming macroeconomic events this week, with Thursday spotlighting the Q2 U.S. GDP data, predicted at 2.1%. Concurrently, a key highlight will be Fed Chair Powell’s speech, shedding light on the Fed’s economic perceptions and possible policy shifts. Key Events This Week: 1. Consumer Confidence data – Tuesday 2. Building Permits/New Home Sales data – Tuesday 3. Q2 GDP Data – Thursday 4. Pending Home Sales data – Thursday 5. Fed Chair Powell Speaks – Thursday 6. August PCE Inflation data- Friday 7. Total of 6 Fed… — The Kobeissi Letter (@KobeissiLetter) September 24, 2023 The week rounds off with the U.S. Core PCE Price Index, a consistent inflation indicator that’s been oscillating aro...
