Here are 7 Things That Will Price BTC, DOGE and Altcoins Next Week! –

In November, Bitcoin (BTC) slumped to two-year lows. Meanwhile, after the collapse of crypto exchange FTX, the rest of the market experienced strong selling pressure. It was confirmed in late November that crypto lender BlockFi had declared bankruptcy following the FTX bankruptcy. In December, investors will be watching to see if the crypto ecosystem will yield more victims. However, investors will also follow the macro data.

November was bad for Bitcoin (BTC) and altcoins

The uncertainty surrounding the FTX crash and its potential consequences pushed BTC prices to a two-year low of $15,500 on November 22. Crypto company BlockFi filed for bankruptcy on November 28. However, despite this, crypto prices stabilized in the closing days of November. The speech of Federal Reserve Chairman Jerome Powell that there would be a slowdown in the rate of increase in interest rates was also effective in this. Markets rated Powell as a dove. Thus, there was an influx of risk assets and prices started to recover.

cryptocoin.comAs you follow, Bitcoin closed November at the level of $ 17,000. The leading altcoin Ethereum (ETH), on the other hand, stabilized after falling below the $1,100 threshold. Accordingly, it ended November at $1,300. Over the past year, the crypto winter has wiped out nearly $2 trillion of market capitalization from the broader cryptocurrency market since its peak in November 2021. Since the start of the year, BTC and ETH have dropped about 65% respectively.

The market will follow this data

Federal Reserve Chairman Jerome Powell also noted that although it may seem like a pigeon, they still have a long way to go in terms of inflation. This situation seems to have escaped the attention of morale-seeking markets. Therefore, the data calendar is very important for the Fed’s next move. Most likely, data that signals that inflation will continue to decline will support the market. However, data showing that the rather stubborn inflation is still here will spoil the market. Therefore, the market will especially follow the US manufacturing data and the PPI data on Friday.

  • On Monday, at 04:45, the President of the European Central Bank will speak. 10:00 Turkish Statistical Institute (TUIK) will announce the inflation figures for November. 5:45 PM US Service PMI (Exp. 46.1). 18:00 Non-Manufacturing PMI (Expected 53.1, Previous 54.4)
  • Some developments in staking are expected on the Chainlink (LINK) front on Tuesday. The altcoin project has announced that the staking transaction will go live on the Ethereum main-net on December 6.
  • Data on Unemployment Benefit Applications will be released on Thursday at 16:30 in the USA, Turkey time. (Expected 230.000, Previous: 225.000)
  • Producer Price Index (PPI) data will be released on Friday at 16:30 in the USA, Turkey. The expectation is at 7.2%.

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