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Post-holiday trading has started in the United States after the New Year’s Day break. Investors and market watchers are focusing on the upcoming Federal Reserve’s December meeting minutes. Based on these minutes, the market may see fluctuations in Bitcoin’s value. The Kobeissi Letter, a macroeconomics outlet, has listed some important economic events planned this week in the US starting from January 2.
Investors will be keen to analyze both the US labor market trends and the minutes from the Fed’s last policy meeting. Reports that detail the business outlook in the manufacturing and services sectors are expected this week. Significant indicators such as the ISM Manufacturing PMI report for December and the Federal Open Market Committee meeting minutes, scheduled for release on January 3, are likely to affect the market sentiment. These indicators provide valuable insights on Fed’s future policy making.
In the crypto market, Bitcoin’s value has surged to a high of $45,500, a notable accomplishment since March 2022. Other altcoins, including Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT), have also seen substantial gains. Meanwhile, investors are waiting for details about the expected interest-rate cuts and the central bank’s pivot towards lessening monetary policy, which could shift the Bitcoin market either way.
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