Next week, the crypto market is going to be held hostage by data again.
The Fed will most likely stand pat this time. The main event is what Powell has to say, followed closely by the Q3 GDP and September PCE data.
If the data comes in hot and inflation hasn’t been brought under control, BTC could get hammered again. On the other hand, weak data and cooling inflation could create an opportunity for a rebound. The rate decision, press conference, and data all land on Thursday night, so volatility could take off. Don’t go all-in betting on a direction—you could get chopped up both ways in no time.
The Fed will most likely stand pat this time. The main event is what Powell has to say, followed closely by the Q3 GDP and September PCE data.
If the data comes in hot and inflation hasn’t been brought under control, BTC could get hammered again. On the other hand, weak data and cooling inflation could create an opportunity for a rebound. The rate decision, press conference, and data all land on Thursday night, so volatility could take off. Don’t go all-in betting on a direction—you could get chopped up both ways in no time.
