3 Things That Could Move Crypto Markets This Week

Crypto Market Monitor

Crypto markets endured a significant decline during early Monday trading in Asia. Upcoming economic events this week may further impact their trajectory.

Economic Calendar: September 30 - October 4

Eleven Federal Reserve speeches and numerous economic data releases will provide insights into the market's future direction as the third quarter concludes.

Key Events:

1. Fed Chair Powell Speaks - Monday
2. September ISM Manufacturing Data - Tuesday
3. JOLTs Job Report - Tuesday
4. ADP Nonfarm Employment Data - Wednesday
5. OPEC Meeting - Wednesday
6. Initial Jobless Claims - Thursday
7. September Jobs Report -

Influence on Crypto Markets

The US central bank's close monitoring of employment data plays a crucial role in policy decisions. Analysts anticipate a strong September jobs report, potentially fueling optimism for the US economy.

Current Market Situation

Crypto markets have plunged, with total capitalization dropping over 3% to $2.37 trillion. Bitcoin has lost value, falling from $66,000 to $64,400, where it has found temporary support. Ethereum has also declined, reaching $2,600 during Monday's Asian trading session. Altcoins face greater losses, with Binance Coin, Dogecoin, and Shiba Inu being particularly affected.