- Impact of the Jobs Report on the Crypto Market
- FED's Interest Rate Decision
- Upcoming Debates and Their Impact on the Crypto Industry
September has generally proven to be a tough month for the cryptocurrency market. This year, key events, such as presidential debates and Federal Reserve decisions, could impact the market.
Impact of the Jobs Report on the Crypto Market
On September 6, the Bureau of Labor Statistics will release its jobs report. Previous reports have shown that they can significantly impact cryptocurrency prices. For instance, after the August report, Bitcoin and Ethereum prices dipped.
FED's Interest Rate Decision
On September 18, the Federal Reserve is expected to announce an interest rate cut of 25 to 50 basis points. According to OTC Capital CEO Brian Dixon, a rate cut higher than anticipated could be bearish for the market. Based on CME Group's forecasts, 67.5% of the market expects a cut of 25 basis points.
Upcoming Debates and Their Impact on the Crypto Industry
The presidential debate between Vice President Kamala Harris and former President Donald Trump is scheduled for September 10. Both candidates have different stances on cryptocurrencies, and the results of their debate could affect the industry. Additionally, in Europe, the launch of euro-backed stablecoins, EURI by Banking Circle and EURC by Circle, is expected.
September could play a crucial role in the development of the cryptocurrency market. The actual impact can only be assessed after these key events have taken place and their outcomes are known.
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