- Federal Reserve Chair, Jerome Powell, and Philadelphia Fed President, Patrick Harker are slated for a round-table discussion on October 2, which might resonate within the crypto markets.
- Sam Bankman-Fried’s trial commencing on October 3 is anticipated to stir mainstream media and potentially affect market sentiment.
As the first week of October unfolds, the cryptocurrency realm is simmering with notable events that could potentially ripple across the market spectrum. From the Federal Reserve’s roundtable discussion to the Cosmoverse Conference, let’s navigate through the week’s blockchain maze that might influence the crypto markets.
Cryptocurrency Events to Keep an Eye On This Week:
1⃣ Cosmoverse Conference starts Oct. 2: It's #Cosmos's premier event. Expect significant updates concerning the Cosmos environment.
2⃣ #Radiant Capital's Launch: Set to go live on the #Ethereum platform come Oct. 3 under the… pic.twitter.com/8yXopMY0o4
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) October 2, 2023
Financial Titans’ Discourse: A Precursor to Market Waves?
Federal Reserve Chair, Jerome Powell, alongside Philadelphia Fed President, Patrick Harker, are scheduled for a crucial round-table discussion on Monday, October 2. Their discourse may delve into addressing the concerns of workers and small business leaders, reflecting the US economic ambiance. Moreover, ISM Manufacturing Index figures, a monthly harbinger of US economic activity, are due on Monday, with a minor uptick anticipated.
In addition, a late-week rendezvous awaits with the employment data release, expected to unveil a marginal improvement from the preceding month, thus keeping market players on their toes.
Crypto Drama Unfolds: SBF Trial and ETH ETF Anticipation
As the week progresses, the crypto theatre will spotlight the high-profile trial of Sam Bankman-Fried on October 3. Observers are bracing for a media frenzy that might attempt to portray the crypto realm in a dismal light, reminiscent of the FTX collapse narrative.
Further captivating the crypto enthusiasts is the whisper of a US Ethereum futures ETF possibly getting a nod. This could unfold as a significant milestone, aligning Ethereum’s trajectory with mainstream financial constructs.
Moreover, the cryptocurrency markets have shown a robust momentum over the weekend, propelling the total market capitalization to a six-week zenith of $1.15 trillion. This market effervescence has been epitomized with Bitcoin gallantly surging 3.8%, gracing the $28,000 mark, a spectacle not witnessed since August 17. Similarly, Ethereum experienced a 3.3% uplift, indicating a vibrant market outlook.
Amidst this bustling week, while the economic calendar might not directly intertwine with the crypto realm, the momentum could potentially uphold should the technical resistance levels be transcended, thus carving a fascinating plot for the week ahead in the blockchain and cryptocurrency sphere.
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