The busiest week of the year: Fed, PCE, GDP and options in four days
Bitcoin is trading around 80,500 $ on Sunday evening, after hitting a low near 79,100 $ on Saturday. This week, four major events are scheduled in quick succession, just days before the U.S. midterm elections on November 3 (Blockonomi).
The schedule
→ Tuesday 27: new home sales
→ Wednesday 28: Fed decision at 7 p.m. (Paris time), press conference at 7:30 p.m. Rates are expected to hold at 3.75–4.00%, and the press conference could offer a signal about December. Microsoft and Alphabet also report earnings
→ Thursday 29: September PCE, expected near 3.6%, and third-quarter GDP
→ Friday 30: approximately 11 billion $ in options expire
Levels cited by analysts
→ Ash Crypto: a weekly close above 82,000 $ would strengthen the bullish scenario
→ Benjamin Cowen: a second close below 83,000 $ would confirm a false breakout
→ XS.com: key support at $82,500, with downside risk toward $70,000
→ Hashdex: Bitcoin should reclaim 84,000 $ before the Fed meeting
The context: oil is around 117 $ per barrel, and Bitcoin ETFs recorded $301 million $ in net inflows for the week, despite outflows on Thursday and Friday (Pluang).
My analysis: nobody knows what the Fed will decide, and anyone promising a specific move is guessing. These are analysts' levels, not forecasts.
This is not investment advice.
Which event will have the biggest impact on Bitcoin this week: the Fed, PCE or options?
Bitcoin is trading around 80,500 $ on Sunday evening, after hitting a low near 79,100 $ on Saturday. This week, four major events are scheduled in quick succession, just days before the U.S. midterm elections on November 3 (Blockonomi).
The schedule
→ Tuesday 27: new home sales
→ Wednesday 28: Fed decision at 7 p.m. (Paris time), press conference at 7:30 p.m. Rates are expected to hold at 3.75–4.00%, and the press conference could offer a signal about December. Microsoft and Alphabet also report earnings
→ Thursday 29: September PCE, expected near 3.6%, and third-quarter GDP
→ Friday 30: approximately 11 billion $ in options expire
Levels cited by analysts
→ Ash Crypto: a weekly close above 82,000 $ would strengthen the bullish scenario
→ Benjamin Cowen: a second close below 83,000 $ would confirm a false breakout
→ XS.com: key support at $82,500, with downside risk toward $70,000
→ Hashdex: Bitcoin should reclaim 84,000 $ before the Fed meeting
The context: oil is around 117 $ per barrel, and Bitcoin ETFs recorded $301 million $ in net inflows for the week, despite outflows on Thursday and Friday (Pluang).
My analysis: nobody knows what the Fed will decide, and anyone promising a specific move is guessing. These are analysts' levels, not forecasts.
This is not investment advice.
Which event will have the biggest impact on Bitcoin this week: the Fed, PCE or options?
