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The crypto market is bracing for a pivotal week as key US inflation data, including the Consumer Price Index (CPI) and Producer Price Index (PPI), are set to be released. According to experts surveyed by Bloomberg, annual inflation is expected to be 7.9%, which is 0.3% lower than in September. It is anticipated that the core CPI, which Crypto products recorded $2.2 billion in weekly inflows, the highest since July, led by Bitcoin; this was fueled by optimism for Republican wins in the upcoming US It is Election Day in the U.S. At some point in the coming hours, days and weeks, we'll know which major party wins control of the House of Representatives, the Senate Congress to vote on crypto regulation soon. This week is key for the crypto market, as several pieces of news will show the industry players’ direction. From inflation data Over the past week, Bitcoin has shifted gears, surging nearly 12% to trade around the $68,100 mark. This rally has rekindled the excitement of ‘Uptober,’ with a wave of U.S. inflation data for October exactly matched economist estimates, sending bitcoin back towards the $90,000 level. The Consumer Price Index (CPI) rose 0.2% in

Big Week for Crypto: US Mid-Term Elections, October CPI & What's Coming

The crypto market is bracing for a pivotal week. All eyes are on the US, with the mid-term elections taking center stage alongside crucial economic data releases. Will Republican wins fuel a crypto surge? We break down what you need to know.

US Mid-Term Elections and Crypto Regulation

It is Election Day in the U.S. At some point in the coming hours, days and weeks, we'll know which major party wins control of the House of Representatives and the Senate. The outcome could significantly impact the future of crypto regulation in the US. Expect Congress to vote on crypto regulation soon, and the direction will largely depend on which party controls Congress.

Crypto products recorded $2.2 billion in weekly inflows, the highest since July. This was fueled by optimism for Republican wins in the upcoming US elections, as some believe a Republican-controlled Congress might be more favorable to less stringent crypto regulations.

Key Inflation Data: CPI, PPI, and the Crypto Market

This week is key for the crypto market, as several pieces of news will show the industry players’ direction. A major factor influencing crypto's trajectory is the release of US inflation data, including the Consumer Price Index (CPI) and Producer Price Index (PPI). According to experts surveyed by Bloomberg, annual inflation is expected to be 7.9%, which is 0.3% lower than in September. It is anticipated that the core CPI, which excludes volatile food and energy prices, will also show a slowdown.

The crypto market has been highly reactive to inflation data. Lower-than-expected inflation numbers could signal a potential pause or slowdown in interest rate hikes by the Federal Reserve, which could boost risk assets like cryptocurrencies.

October CPI Results: What Happened?

Over the past week, Bitcoin has shifted gears. A wave of U.S. inflation data for October exactly matched economist estimates, sending bitcoin back towards higher levels. The Consumer Price Index (CPI) rose 0.2% in October. These results, while not a huge surprise, are still being analyzed for their potential impact on the Fed's future monetary policy and the crypto market's response.

Bitcoin's 'Uptober' and Beyond

The crypto community is watching closely to see if this week's events will contribute to a sustained rally or if the gains will be short-lived. Stay tuned for updates and analysis as the US mid-term election results and further economic indicators become available.

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