The crypto market and the global economy are entering a decisive week, where economic data could shake up current trends. From manufacturing PMI to employment data, crucial indicators are pouring in, leaving investors in suspense. Meanwhile, Ethereum and altcoins are stealing the show, surpassing all-time highs. Find out how these figures and events influence the crypto market.
Economy: indicators in the spotlight
Last week was already tense for cryptos. And at the start of the weekly cycle, the waltz of economic data opens with the November manufacturing PMI reportexpected this Monday. This key indicator examines the state of health of American industry. Tuesday, time for job offer figureswhile Wednesday will be doubly busy: employment data outside the agricultural sector and the Services PMI will illuminate the debates.
To spice up this already tough week, Friday will reveal decisive reports:
- Nonfarm payrolls : an essential barometer of job creation;
- Unemployment rate : the cornerstone of economic discussions;
- Consumer sentiment : thanks to the Michigan Consumer Sentiment Index;
- Expected inflation : crucial data for the average consumer and the markets.
Add to this the expected speeches from Jerome Powell on Thursdayand the stage is set for a series of economic roller coasters.
Crypto market: the altseason roars
While economic data panic Wall Street, the crypto market is experiencing its own fireworks. The total capitalization exceeded $3.65 trilliona historic record.
And altcoins are not pretending: XRP soared 30% to reach $2.48, its highest level in 7 years. Ethereum, the giant with strong shoulders, touched $3,750, a level not seen in six months.
Even crypto meme regulars were not left out: Dogecoin and Shiba Inu – this memecoin having jumped 20% recently, also recorded notable increasesaccompanied by Cardano and Stellar. However, the dominance of bitcoin remains in question, its price oscillating without much conviction around $98,000.
The market excitement underlines a truth that the crypto community knows well: in this world, boldness pays, especially when economic fundamentals falter.
In addition, traders are scrutinizing this electric market where each economic data seems to set the pace. While bitcoin is losing its luster, the long-awaited altseason seems well and truly on track, rekindling the enthusiasm of the crypto community.
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