Bitcoin Alert: Key Events to Monitor This Week

• Key Economic Events and Data Releases to Shape Market Mood
• Events to Watch
• Key Events To Keep An Eye On:
• Market Volatility and The FED's Role
• Impact on Crypto Markets

Key Economic Events and Data Releases to Shape Market Mood

The forthcoming week is marked by several crucial economic events and data releases in the United States, which are anticipated to influence overall market sentiment. An added layer of intricacy comes from Bitcoin$42,260 -0.64%, which has commenced a retreat in the past 24 hours.

Events to Watch

The week's highlight is Tuesday's Consumer Price Index (CPI) readings. The November report is forecasted to illustrate a steady year-over-year increase in core CPI at a rate of 6%-a minor fall from October's 6.3%, but still indicative of high price pressures.

Key Events To Keep An Eye On:

1. November CPI Inflation data - Tuesday
2. OPEC Monthly Report - Wednesday
3. November PPI Inflation data - Wednesday
4. Fed Rate Decision and Statement - Wednesday
5. Retail Sales data - Thursday
6. Initial Jobless Claims - Thursday

Market Volatility and The FED's Role

Producer Price Index (PPI) figures due Wednesday will offer additional insight into inflationary conditions. The week's highlight is the Federal Reserve's policy meeting, marking the end of the central bank's final assembly for the year. The cryptocurrency market, in particular, should be alert to FED rate alterations. While no immediate rate changes are expected, Federal officials are projected to bolster their recent communications around rates potentially peaking below earlier predictions. Following on Thursday are November's retail sales numbers-an effective indicator of actual U.S. spending habits.

Impact on Crypto Markets

Within the world of cryptocurrency, total capitalization has decreased by nearly 4% amidst an extensive market sell-off. Bitcoin (BTC) took the biggest hit, with the cryptocurrency going down by 3.8% to approximately $42,200 as of the latest update. For crypto to recover from preliminary downtrends, investors would want signs of inflation receding without any indicators of a recession. However, in the face of economic uncertainty, digital assets are likely to encounter significant risks.

Edited by Jonathan Stoker