The crypto market is entering a crucial week, with a series of key events scheduled such as US PCE inflation, FOMC minutes, and Q3 GDP data (first revision), among others. Furthermore, the crypto market expiration has also fueled concerns among market participants. For context, investors are waiting for the impact of these events, while the market as a whole has noted a massive rally in recent days.
US PCE inflation and FOMC minutes in brief
The crypto market awaits a series of key economic events this week, including the US PCE, FOMC and others, with speculation soaring over the potential impact on asset prices. The week will begin in particular with consumer confidence and US FOMC data for November scheduled for Tuesday, November 26. This would provide additional guidance on where the Fed might stand with its monetary policy plans, which typically affect investor sentiment.
Additionally, the minutes will also be closely watched as recent reports showed that the US Federal Reserve said it would not focus on the 2% inflation target going forward. Additionally, with Donald Trump’s election victory and Elon Musk’s focus on cutting federal spending, investors will be closely following the central bank’s minutes this week.
Market participants will then await US GDP figures for the third quarter. The first revision of economic figures is scheduled for Wednesday, November 27, which will provide guidance on U.S. economic health. This is also likely to impact sentiment in the financial sector as a whole, not to mention the crypto market.
Meanwhile, investors will be watching inflation numbers closely, especially after recent data indicates prices are soaring. US PCE inflation, forecast for Wednesday, is expected to come in at 0.2% in October, unchanged from the previous month’s figure. On the other hand, the PCE figure for the year is expected to accelerate to 2.3%, compared to 2.1% noted the previous month.
Additionally, Core PCE inflation figures, which exclude energy and food prices, are expected to show a rise of 2.8%, up from 2.7% noted in September. However, the monthly figure is expected to remain unchanged at 0.3%.
Will the crypto expiration impact the ongoing rally?
Bitcoin and other leading altcoins have seen a strong rally recently as optimism hovers over the market following Donald Trump’s election victory. However, some market experts expect the upcoming crypto expiration to impact market sentiment.
According to Deribit data, $9.13 billion worth of Bitcoin options will expire on November 29, with a put/call ratio of 0.80. The maximum pain price is $77,000. On the other hand, $1.24 billion worth of Ethereum is also set to expire on the same date, with a put/call ratio of 0.77 and a maximum price of $2,800.
This crypto expiration, worth over $10 billion, is likely to trigger volatility in the market, which will impact investor sentiment. Additionally, many leading experts, including Peter Brandt, are hinting at a potential upcoming Bitcoin selloff, while remaining optimistic about the crypto’s long-term trajectory.
That said, the market will closely follow US PCE inflation numbers, FOMC minutes and other macroeconomic events. Additionally, the crypto expiration is also expected to impact trader sentiment, especially amid the ongoing market rally.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. Its role involves publishing articles, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting relevant economic information. Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with diverse audiences.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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