Bitcoin Under Pressure Again Ahead of 4 Major Market-Moving Events

Bitcoin already started the week on the wrong foot, but things can deteriorate much further in the following five days. Bitcoin and crypto enter another potentially turbulent week with fresh US inflation data, a packed Federal Reserve speaking schedule, and oil-market developments all capable of shifting expectations for December’s FOMC meeting. After the recent Wall Street crash and BTC’s slide to multi-month lows, even a small surprise could trigger another sharp move. CPI and PPI Monday is expected to be a slow day in terms of macro events, even though prices have already gone wild. The biggest macro factor arrives on Tuesday when the US will publish the October Consumer Price Index data. September’s headline inflation came in at 3.7% year-over-year, and Tuesday’s report will be closely watched for signs that price pressures are finally cooling. Current expectations point to a softer monthly reading, but markets still price in roughly an 80% chance of another 25-basis-point Fed hike in December. A hotter-than-expected CPI print would likely reinforce the case for further tightening, could lift Treasury yields and the dollar, and put risk-on assets such as BTC under pressure agai...