A big week for the markets: what to expect for crypto
Sometimes it takes just one sentence from the Federal Reserve chairman to shake the entire financial world. And when a calendar lines up geopolitical meetings, key economic data, and major purchases by corporate “whales,” we can safely say: an interesting week lies ahead.
In today’s article, we’ll look at the most important events and price levels every crypto investor should follow.
Macro events 🌍
This week is packed with news that could impact the markets:
- Monday: Trump – Zelensky meeting.
- Wednesday: release of the minutes from the July Federal Reserve meeting.
- Thursday: PMI data (global manufacturing and wholesale trade).
- Friday: Jerome Powell’s speech at Jackson Hole (5:00 PM Bulgarian time).
The focus is precisely on the last event – Powell’s speech. Markets will be looking for signals of upcoming interest rate cuts in September. A cut would be positive for crypto assets.
2. Corporate purchases and market impact 🏦
While investors await the Fed’s words, big companies are already taking action.
- Bitmine ($BMNR) purchased an additional $1.7 billion in Ethereum, raising its holdings to 1.52M ETH (~$6.6 billion).
- This moves the company into second place among the world’s largest corporate crypto portfolios – right after MicroStrategy ($MSTR).
- At the same time, Ethereum ETFs also recorded significant inflows.
And yet – ETH’s price fell about 10% from its highs last week. The reason?
3. Short-term correction or the start of something bigger? 📉
Last Friday marked the start of a decline, driven by PPI data (U.S. producer prices). After strong gains in previous weeks, the market needed a “pause.”
Key levels to watch now are:
- Ethereum: $4,100
- Bitcoin: $112,000
These values act as support. If broken downward, they will likely turn into resistance, making recovery harder.
The good news? Most analysts see this as a temporary correction within a broader upward trend.
A tense week lies ahead for financial markets. On one side we have fundamental events that could shake sentiment, and on the other – growing corporate purchases showing confidence in crypto’s future.
For investors, this means one thing: closely watch the key levels and macro news.
