CoinDesk
Bitcoin bulls are pausing after a strong rally as investors turn to a busy week of U.S. data following last week's Federal Reserve rate hike, which raised the benchmark target rate to 4%. The calendar includes Q2 GDP, August core PCE, jobless claims and September payrolls, forecast at 84,000 versus 162,000 previously.
Why it matters
The data could shape expectations for the Fed's policy path after a hawkish rate decision. Markets will also weigh housing figures and manufacturing activity, alongside recent policy moves from the Bank of Japan and Bank of England. That leaves digital assets exposed to shifts in broader rate expectations as investors assess whether the rally can regain momentum.
Solana also enters a significant upgrade window on Sept. 28. Alpenglow is set to replace TowerBFT with the Votor protocol, aiming to reduce voting transaction overhead across the network.
Market impact
The main macro catalysts arrive Sept. 30 and Oct. 1-2: final Q2 GDP is forecast at 1.5%, down from 2.1%, August core PCE at 0.3% month over month, and initial jobless claims at 199,000 versus 197,000 previously. September nonfarm payrolls are forecast at 84,000, while average hourly earnings are expected to rise 0.3% month over month.
For crypto, the week's focus is whether economic data shifts the rate outlook and how Alpenglow's activation proceeds. Governance votes at World Liberty Financial, Balancer and Decentraland, plus Korea Blockchain Week in Seoul, round out the calendar.
Frequently asked questions
-
What U.S. data could shape crypto markets this week?
Investors are watching final Q2 GDP, August core PCE, initial jobless claims, September payrolls, average hourly earnings, housing data and manufacturing activity.
-
What is the payrolls forecast, and how does it compare with the previous figure?
September nonfarm payrolls are forecast at 84,000, compared with 162,000 previously.
-
Why is the Federal Reserve part of the week's crypto outlook?
The Fed raised its benchmark target rate to 4% last week. Incoming economic data could shift expectations for its policy path, affecting the broader market backdrop for crypto.
-
What changes with Solana's Alpenglow upgrade?
Alpenglow is set to replace Solana's TowerBFT consensus system with the Votor protocol, with the aim of reducing voting transaction overhead.
-
When does Solana's Alpenglow activation window open?
The activation window is scheduled to open on Sept. 28.
Crypto News
WuBlockchain
Crypto Rank News
WatcherGuru
CoinTelegraph