Crypto market capitalization has topped $2.5 trillion for the first time since late July as Bitcoin powers towards $70,000, but will this week’s economic reports propel it further?
Additionally, the United States presidential election is just two weeks away, “which should begin to bring more volatility,” commented the Kobeissi Letter.
Economic Events Oct. 21 to 25
Wednesday will see existing home sales data released providing insights into the health of the housing market, which has significant implications for US economic activity but bears little impact on crypto markets.
Thursday will see more home sales data and initial jobless claims. The latter report paints a picture of the labor market, which has wider implications for economic activity.
September’s durable goods orders reports are released on Friday, measuring the cost of orders received by manufacturers for durable goods, such as vehicles and electrical appliances. This one assesses the state of production activity an
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