Bitcoin and altcoins started the week on a strong note as investors bought last week’s dip and as optimism on trade remains. BTC price was trading at $109,150 on Monday morning, up sharply from last week’s low of $103,000. Other altcoins like Dogecoin, Litecoin, and Cardano have also all rebounded.
Top Bitcoin and Crypto News This Week
The first main news that will move the crypto market this week will be the upcoming talks between the US and Chinese officials in Malaysia. These talks aim to reduce the trade tensions that have been going on in the past few months.
The negotiations will come a week before the much-anticipated talks between Donald Trump and Xi Jinping at the APEC meeting in South Korea. Hopes of a trade deal between the two countries will be bullish for cryptocurrencies by reducing one of the main headwinds in the market.
The other main crypto news this week will be trends on ETF inflows. Spot Bitcoin ETFs shed over $1.2 billion last week, while Ethereum ETFs lost over $300 million in the industry.
These outflows accelerated after the recent liquidations, which jumped to over $19 billion in a single day on October 11. Therefore, traders will pay closer attention to liquidations and ETF inflows this week.
READ MORE: Top Cryptocurrencies to Watch This Week: Pi Network, Toncoin, Cardano
US Inflation Data and the Fed
The other key Bitcoin and crypto market news this week will be the upcoming US inflation data on Friday. Economists expect the data to show that the headline and core inflation jumped to 3.1% in September.
A high inflation figure will be bearish for cryptocurrencies as it will mean that the Federal Reserve may struggle to cut interest rates in its meeting next week.
Polymarket data shows that investors anticipate that the bank will cut interest rates to between 3.75% and 4.25%. Bitcoin and other altcoins tend to perform well when the Fed is cutting interest rates.
Furthermore, there will be other top crypto news, including token unlocks. Some of the top cryptocurrencies that will have unlocks this week are Kaito, EigenLayer, TON, Avalanche, and Axelar Network. Token unlocks are normally negative for cryptocurrencies.
Additionally, the Glacier airdrop ends on Monday this week. This is an important event where Cardano and holders of other tokens have been claiming NIGHT tokens. NIGHT is the native token for the Midnight network.
Traders will also watch the ongoing US government shutdown. Signs of it ending will be bullish for the crypto market as it will boost the odds of altcoin ETF approvals happening soon.
READ MORE: Here’s Why Solana Price May Crash and Hit $150 Soon
