As we have been doing for a long time, we will discuss what awaits us in the cryptocurrency market this Sunday morning. There are important developments. Serious volatility is expected in cryptocurrencies, especially as the ETF approval/rejection week approaches. But the Spot Bitcoin ETF decision isn’t the only big deal this week. There are others too.
Important Developments in Cryptocurrencies
Perhaps the most important development facing the crypto market in the week of January 8-14 is the Spot Bitcoin ETF decision. Additionally, investors need to be careful as fake decisions and leaks are expected to be on the agenda until the ETF decision is made. The second Matrixport incident is much larger and could possibly occur again in the coming hours.
Monday, January 8
- Potential Spot Bitcoin ETF issuers are expected to complete paperwork.
- 20:00 Fed/Bostic
Tuesday, January 9
- 20:00 Fed
- /Barr PancakeSwap (CAKE) 2024 First Quarter Roadmap
Wednesday, January 10
- 23:15 Fed/Williams
- SEC: Spot Bitcoin ETF Decisions (Last Decision Date for Ark&21Shares)
Thursday, January 11
- 16:30 US Core CPI (Expected: 3.8% Previous: 4%)
- 16:30 US CPI (Expected: 3.2% Previous 3.1%)
- 16:30 Number of unemployment benefit applications (Expected: 211,000, previous: 202,000)
- SUI 2024 Plan (Twitter/X Space)
- GLMR Project Unlocking ($1.22 million)
Friday, January 12
- 16:30 US Core PPI (Expected: 1.9% Previous: 2%)
- APT Coin Lock Opening ($225 Million)
Sunday, January 14
- CYBER Lock Opening ($9.33 Million)
Be Careful of These in Crypto
The two most important developments this week are ETF decisions and inflation data. In the first half of the week, everyone will talk about ETFs. If unexpected figures are announced in the second half of this year, inflation statistics may come to the fore. Friday’s last jobs report was so bad that macroeconomic trends shouldn’t be overlooked. If inflation figures turn out to be negative, optimism about the end of the month meeting will disappear completely.
The market wants a 150 basis point cut and the Fed wants a 75 basis point cut. Future data will show us which of the two extremes interest rates will approach. We are now approaching the light at the end of the tunnel in terms of monetary tightening. Discounts are expected to begin in the second quarter unless there is a major trend reversal.
