The week is shaping up as an important one for the month of September, as there are major developments scheduled to take place in the coming days.
From inflation numbers to interest rates, let’s dive deeper into the three things you need to watch this week.
There’s an important hearing in the case between the United States Securities and Exchange Commission and Binance today. Let’s provide a bit of a backstory.
Recently, the Commission claimed that Binance has failed to provide sufficient documentation regarding the case, despite having previously agreed to expedited discovery. BAM – the organization that’s responsible for Binance’s US branch, has submitted some 220 documents, but the SEC alleges that many of them consist of “unintelligible” screenshots.
Moreover, both the SEC and Binance filed a joint protective order that’s designed to designate sensitive information as confidential.
The hearing that’s supposed to focus on that protective order is scheduled for today at 13:00 ET.
Inflation data tends to have an impact on Bitcoin’s price but it’s almost always more of a news-related influence. Last week, the US Bureau of Labor Statistics published the updated numbers for its Consumer Price Index (the metric that’s largely used to gauge inflation in the country), but this week’s, it’s time for the European Union to do so as well.
The EU is supposed to publish the following numbers on Tuesday – September 19th at 12:00 PM CET:
- Inflation Rate YoY Final
- Inflation Rate MoM Final
- CPI Final
- Core Inflation Rate YoY Final
Wednesday is likely to have a bigger impact on the market because it will see two very important events that are likely to impact markets globally, not just cryptocurrencies.
The US Federal Reserve will be making its decision on interest rates public and the Chairman – Jerome Powell – will hold a press conference after that.
The timing is:
- Fed interest rate decision at 2:00 PM ET
- Fed Chair Jerome Powell press conference at 2:30 PM ET.
There’s also another deadline on Friday but it’s interesting to see if it will have an impact on the market at all – it’s the deadline for proposals regarding the potential relaunch of the failed FTX exchange.
The post Bitcoin Volatility Incoming? 3 Things to Watch This Week appeared first on CryptoPotato.
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