Crypto Market Braces for Another Volatile Week with Economic Developments and Altcoin Events
The cryptocurrency market is bracing for another volatile week as several economic developments and altcoin events unfold. Following Federal Reserve Chairman Kevin Warsh's hawkish speech in Jackson Hole, both traditional and crypto markets declined this week.
Bitcoin has partially recovered to trade at $79,368 at the time of writing. However, numerous challenges await investors in the new week. On Monday, August 31, Revolut will delist USDT, while ENS's Vision platform is suspending its operations.
Tuesday, September 1 will see Cosmostation Wallet discontinue its wallet service and Franklin Templeton's two Bitcoin dividend reinvestment ETFs go live. The TON bridge-v3 inter-chain bridge will be permanently closed, and Russia is launching a digital ruble. Ethos is hosting a WHUF token auction.
The week's key events include the Euro Area Consumer Price Index (CPI) on Wednesday, September 2, which is expected to rise to 3.3%, following last month's 2.9%. The FED will release its Beige Book document at 21:00 UTC+3.
Thursday, September 3, will feature the US Initial Jobless Claims, while Friday, September 4th, will see the US Average Hourly Earnings and Non-Farm Payrolls Data released. The US Unemployment Rate is expected to remain steady at 4.1%.