This week highlights pivotal shifts in the world of cryptocurrencies, marking a crucial juncture for market stakeholders. As excitement grows around the potential approval of spot Bitcoin ETFs, this week could prove to be the most consequential since the onset of such approvals. With only hours remaining until the U.S. presidential outcome, investors are left pondering what lies ahead.
**Contents**
– Key Developments of the Week
– November 4, Monday
– November 5, Tuesday
– November 6, Wednesday
– November 7, Thursday
– November 8, Friday
– Elections and Interest Rate Decisions
**Key Developments of the Week**
Crypto enthusiasts regard this week as one of the most significant of the year. A Trump victory could fulfill his promises regarding cryptocurrencies, potentially propelling Bitcoin to six-figure valuations in just a few months. Conversely, a win for Harris might dampen enthusiasm in the near term. Several critical events are slated for this week.
**November 4, Monday**
– 10:00 Turkey Inflation (Expectation: 48.3%, Previous: 49.38%)
– 10:00 Turkey Monthly Inflation (Expectation: 2.66%, Previous: 2.97%)
– 18:00 U.S. Factory Orders (Expectation: -0.5%, Previous: -0.2%)
– Digital Assets Week Singapore Event
**November 5, Tuesday**
– 16:00 U.S. Elections
**November 6, Wednesday**
– Singapore Fintech Festival
– IDRT, KP3R, OOKI, UNFI to be Delisted (Binance)
**November 7, Thursday**
– 16:30 U.S. Jobless Claims (Expectation: 220.5K, Previous: 216K)
– 22:00 Fed Interest Rate Decision (Expectation: 25bp Cut)
– 22:30 Fed Press Conference
**November 8, Friday**
– 19:00 Fed/Bowman Speaking
**Elections and Interest Rate Decisions**
In recent weeks, Elon Musk has been a vocal supporter of Trump. Should Trump secure a win, Musk’s impact could be substantial. With only hours to go, Trump’s campaign momentum has increased following a violent incident months prior. He has publicly detailed his agenda and fervently endorsed cryptocurrencies.
Despite a somewhat underwhelming debate performance against Harris, Trump currently polls around 47%, closely trailing Harris’s 48%. Had Biden not stepped aside for Kamala Harris, Trump might have fared better. Nonetheless, polls suggest Trump is gradually gaining ground.
Additionally, just two days post-elections, the Federal Reserve will unveil its interest rate decision. Anticipated announcements may shed light on the potential for rate cuts, which could boost investor enthusiasm for quicker easing options. The upcoming days represent some of the year’s most pivotal moments.
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**Disclaimer:**
The information presented in this article is not to be considered investment advice. Investors should recognize that cryptocurrencies exhibit high volatility and associated risks, and should conduct their own thorough research.
