This week is marked by important political and economic events that could significantly affect Bitcoin's price trajectory.
Important Events of the Week
In a post on X, Greeks.live highlighted six key events this week that could affect Bitcoin's price: 1. Launch of Apple's new iPhone 16 series. 2. Release of US CPI data for August. 3. Debate between US presidential candidates Kamala Harris and Donald Trump. 4. Release of US initial jobless claims data for the week. 5. ECB interest rate decision. 6. Release of the University of Michigan Consumer Sentiment for September.
Crypto Market Overview
According to the latest reports from Greeks.live, the crypto market is starting the new week with low confidence and an overbought state. All IVs have surged, with short and intermediate-term IVs seeing more significant rallies. Options trading is focused on this week's Fed rate cut meeting. Currently, short and medium-term IVs are at yearly lows. The Bitfinex interest rate market recently recorded a lot of high interest rate orders, and finding the right orders can be actively traded, according to Greeks.live.
Current Bitcoin Price
As of today, the most significant digital asset is trading above $54,000, down 1% for the day. After trading at $53,000 yesterday, BTC has experienced significant volatility in the past 24 hours. BTC is down by almost 4% over the past seven days, and its seasonality seems to be persisting in 2024 as well. Bitcoin started September with prices above $58,000. It remains to be seen how this week's events will affect BTC's price.
This week promises to be filled with important events that could significantly impact Bitcoin's price and the overall sentiment in the crypto market. Investors are closely monitoring the news, awaiting further developments.
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