Bitcoin Faces Crucial October Catalysts Amid Rate Hike Fears
The month of October has several significant events lined up for Bitcoin and the broader crypto market. The Bureau of Labor Statistics will release the September nonfarm payrolls report on October 2, which could impact expectations of another rate hike from the Federal Reserve. The Fed's rate decision on October 28 is also crucial, as it may signal whether they are inclined to hike again in December or hold.
Other key events include the Consumer Price Index (CPI) print on October 14, Producer Price Index (PPI), and advance retail sales on October 15. The Personal Consumption Expenditures (PCE) inflation gauge and advance third-quarter Gross Domestic Product (GDP) estimate will also be released on October 29.
Additionally, the XRP Ledger's BatchV1_1 amendment could activate around October 9 if validator support holds above the required 80% threshold. The amendment enables delivery-versus-payment and bundled settlement use cases on the ledger.