This week, we focus on significant developments in
cryptocurrencies
, marking a critical period for market participants. As anticipation builds around the approval of spot Bitcoin
$
68,411
ETFs, this week could be the most pivotal since such approvals began. With only hours left until the U.S. presidential decision, many are wondering what awaits investors.
Contents
Major Developments of the Week
November 4, Monday
November 5, Tuesday
November 6, Wednesday
November 7, Thursday
November 8, Friday
Elections and Interest Rate Decision
Major Developments of the Week
Cryptocurrency enthusiasts consider this week among the most crucial of the year. If Trump wins, his promises for cryptocurrencies could lead Bitcoin to reach six-figure levels within months. However, if Harris emerges victorious, it may dampen spirits in the short term. Numerous key developments are scheduled for this week.
November 4, Monday
10:00 Turkey Inflation (Expectation: 48.3%, Previous: 49.38%)
10:00 Turkey Monthly Inflation (Expectation: 2.66%, Previous: 2.97%)
18:00 U.S. Factory Orders (Expectation: -0.5%, Previous: -0.2%)
Digital Assets Week Singapore Event
November 5, Tuesday
16:00 U.S. Elections
November 6, Wednesday
Singapore Fintech Festival
IDRT, KP3R, OOKI, UNFI to be Delisted (
Binance
)
November 7, Thursday
16:30 U.S. Jobless Claims (Expectation: 220.5K, Previous: 216K)
22:00 Fed Interest Rate Decision (Expectation: 25bp Cut)
22:30 Fed Press Conference
November 8, Friday
19:00 Fed/Bowman Speaking
Elections and Interest Rate Decision
Elon Musk has been vocally supporting Trump in recent weeks. Should Trump win, Musk’s influence could be significant. With just hours remaining, Trump’s campaign has gained traction following a violent incident months ago. He has publicly outlined his projects and ardently supported cryptocurrencies.
Despite a lackluster debate performance against Harris, Trump currently holds around 47% in recent polls, just shy of Harris’s 48%. If Biden had not ceded his position to Kamala Harris, Trump’s chances might have been better. However, polls indicate that Trump is gaining ground over time.
Moreover, just two days after the elections, the Fed will announce its interest rate decision. Upcoming announcements may provide insights into the pace of potential rate cuts, which could enhance investor appetite for quicker easing scenarios. The coming days represent some of the year’s most significant moments.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
This Weeks Major Updates in Cryptocurrency
