Crypto markets have retreated over the weekend following a Bitcoin-powered rally last week, and more volatility is expected in the next several days.
The US presidential election on Tuesday will cause short-term volatility as a Trump win is likely to be positive for crypto, while a Harris victory will have the opposite effect.
In addition to a new president, there are several key economic reports and a Federal Reserve meeting this week.
Economic Events Nov. 4 to 8
Last week’s crypto market retreat was partially driven by the latest Core PCE report, which cast a shadow on the Fed’s rate-cut outlook.
Tuesday will see the release of October’s ISM Services PMI report which depicts business conditions in the US services sector. These reports are leading economic indicators used by economists and analysts to gain insights into changing economic conditions.
Some jobs and employment reports are expected on Thursday, which also help determine the health of labor markets and overall econom
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