\n
<\/p>\n
Although there are several major economic events taking place in the following five business days, the reality is that only a handful of them could (and most likely will) impact the cryptocurrency market. That impact, though, is expected to be quite vicious in either direction.<\/p>\n
The Kobeissi Letter highlighted<\/a> an auction of 20-year securities, August retail sales, and, most importantly, the Federal Reserve’s September interest rate decision on Wednesday. The latest data shows that markets assign an 85%-90% probability that the central bank will hike rates by 25 basis points, following contrasting economic data.<\/p>\n The Fed setup has changed dramatically in just a few weeks, starting with the August employment data from early September, which showed that the US economy had added<\/a> 162,000 jobs last month, triple expectations. Later on, the PPI numbers indicated that the annual producer inflation had accelerated to 5.4%. Last Friday’s CPI report subsequently confirmed<\/a> headline inflation at 3.4%, with monthly core CPI slightly hotter than expected.<\/p>\n This combination, plus the fact that oil prices remain above $100 and diesel hit a new record in the States, has strengthened the Fed’s case for tighter policy.<\/p>\n Bitcoin and the altcoins have already demonstrated<\/a> their sensitivity to this shift, dropping sharply following Fed Chair Kevin Warsh’s speech from Jackson Hole several weeks ago, and again as rate-hike odds increase after the latest economic data.<\/p>\n The only question is whether this highly expected rate hike has been priced in, with BTC sliding from $82,400 to under $78,000 as of now. As such, investors will closely watch Warsh’s press conference after the meeting for clues as to whether the Fed’s decision on Wednesday is a one-off adjustment or the start of another tightening cycle.<\/p>\n Before all eyes turn on the Fed on Wednesday, the crypto industry has another major event on Tuesday. The Senate’s cloture vote on the CLARITY Act is scheduled for 2:15 P.M. that day, and it requires 60 senators to advance the debate on the key bill.<\/p>\n The CLARITY Act aims to establish a comprehensive US crypto market structure and shed further details on the respective roles of the SEC and the CFTC.<\/p>\n Republicans released<\/a> an updated text last week, adding new rules for non-decentralized DeFi protocols and clarifying how credit unions can deal in crypto. Moreover, they published<\/a> their “last, best, and final” draft of the legislation on Sunday, including an ethics proposal backed by the POTUS.<\/p>\n The post Bitcoin\u2019s Biggest Week of 2026 Is Here: Fed and CLARITY Vote Take Center Stage<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nFed in Focus<\/h2>\n
The Tuesday Test<\/h2>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Although there are several major economic events taking place in the following five business days, the reality is…\n","protected":false},"author":2,"featured_media":45843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-47098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/47098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47098"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/47098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/45843"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}