Bitcoin 
$90,306.27 The price continues to linger at 90 thousand dollars and we shared the important developments of next week in the previous news. Now, we will take a look one by one at how the developments in the coming day may affect cryptocurrencies. What surprises can investors expect in the new week?
Warnings of the Week in Cryptocurrencies
First of all, Trump next week Powell’s He may announce his replacement because we have seen White House announcements that he will announce it before the holidays. There is no progress in the peace negotiations between Ukraine and Russia and we do not expect any serious movement as the process is blocked. The US employment report coming on Tuesday will be the first big thing of the week.
The report to be released by the Bureau of Labor Statistics (BLS) includes the unemployment rate, average earnings and to non-agricultural employment It will contain figures regarding The previous published report was from October and we only saw employment momentum, which was still positive. While unemployment has risen, wage pressures have eased. A stronger-than-expected employment report will reduce the likelihood of the Fed’s January interest rate cut. As a matter of fact, currently FedWatch It shows that the dominant view is to keep interest rates constant.
S&P Global Purchasing Managers Index (PMI) surveys will also arrive on the same day. We should see weakening here as well, as strong PMI data will cause the Fed to act more cautiously regarding interest rate cuts. This is what works in favor of cryptocurrencies.
CPI
November will be our first full inflation report due to the government shutdown. The increase we will see in inflation Fed’s It will further encourage the hawks within him. Although not too far from the target, inflation is above the target and has been so for more than 4 years. If employment rises above expectations this week and inflation increases more than expected, further declines may be seen in cryptocurrencies as pessimism about interest rate cuts increases.
Retail Sales
The Retail Sales report tracks total revenue from retail stores, food services, and online sellers. Consumer spending accounts for 70% of U.S. GDP and is a closely watched report on the economy. The last September report came and we saw a slowdown in consumer demand. If the report exceeds expectations, this will not be good for cryptocurrencies because it will reduce the easing pressure on the Fed.
Michigan Report
The University of Michigan Consumer Survey tracks consumer psychology regarding economic conditions. We generally see that abnormal figures cause fluctuation in the markets. cryptocurrencies It is also an important data for It will be important to see how 1- and 5-year inflation expectations change. If the final survey confirms that inflation expectations have eased, the Fed’s interest discount pressure may increase. If expectations rise and market sentiment weakens, this will negatively affect cryptocurrencies.
