Crypto Market Braces for Data-Heavy Week Amid US Economic Releases
The cryptocurrency market is bracing for a data-heavy week as seven US economic releases come into focus. The releases are expected to influence expectations for Federal Reserve policy, with employment data taking center stage ahead of the next Federal Open Market Committee meeting.
One key release on Tuesday will be the August ISM Manufacturing PMI, which is forecasted to ease to 55.3 while its prices component rises to 72.0. This could have implications for Bitcoin's price action, as it currently remains capped below $80,000, $82,000 resistance.
XRP, on the other hand, is holding firm at $1.30, $1.40 support, with traders weighing employment data and FOMC implications for short-term risk and liquidity on centralized exchanges (CEXs) and decentralized exchanges (DEXs).