Main crypto events of this week

Token unlocks – all week

The beginning of the week pleases investors with a new portion of major unlocks, which the community always awaits with great interest. The most notable will be the unlocking of almost 99 million 1Inch tokens (1INCH).

Publication of FOMC minutes – November 26

This Tuesday will be published minutes of the Federal Open Market Committee (FOMC) meeting dated November 6th. The data is expected to be released at 22:00 Moscow time.

These minutes will be published immediately after two interest rate cuts: by 50 basis points in September and by another 25 basis points. in October. While the minutes won’t offer anything new in terms of rate information, they often provide clues about how the Fed views the current state of affairs and whether it plans to tighten or ease monetary policy. This time, investors will be looking for clues about whether the pace of rate cuts might slow.

The release of FOMC minutes usually causes some volatility in the overall market, but it is often an excellent option trading tool.

FOMC minutes are a detailed record of the meeting of the monetary policy committee. The document reflects the FOMC’s position on the issue, so traders are looking for hints about future decisions on interest rates.

US GDP Data – November 27

This Wednesday, at 16:30 Moscow time, data will be released by gross domestic product (GDP) for the third quarter of this year.

This information will directly affect the health of the country’s main currency, the US dollar. If actual indicators turn out to be higher than expected, the market will see a rise in the dollar, and otherwise a decline.

This month’s rates are expected to decline slightly from October, from 3.0% to 2.8%. If actual data matches the forecast or turns out to be even better than expected, then markets may see the US dollar rise.

GDP (gross domestic product) is the market value of all goods/services produced in a country for consumption; It is also the total income of citizens, companies and the state for a certain period. This indicator is used to assess how well a state’s economy is performing: if GDP grows, the country is developing.

First Bitcoin halving – November 28

This Thursday marks exactly 12 years since the first ever halving took place on the BTC network. Interesting fact: in the same year, the cue ball reached the $5 price mark for the first time.

In 2024, on April 20, the fourth halving took place. The network now creates half as many coins – 3,125 new BTC every 10 minutes instead of 6.25. Almost immediately after the event, Bitcoin mining difficulty hit a new high of 88.10 T. This was the first time such a reaction to the halving was recorded.

There are many more halvings ahead for Bitcoin. According to the schedule, the last of them will take place only in 2140. At the same time, deviations from the schedule cannot be excluded in the event of any changes in the operation of the network.

Bitcoin halving chart. Source: coinbeast

Halving is a special mechanism that divides the amount of reward miners receive by half. Thus, the number of new coins released into circulation is gradually decreasing. Halving is written into the Bitcoin code and occurs automatically every 210,000 blocks.

Conclusions

Several important events await us this week: token unlocks, the launch of a new token, and a report from Nvidia. All of them are capable of lifting the mood of the crypto market.

At the same time, investors will again have to pay attention to the US market. Although reporting on unemployment claims is unlikely to have an immediate impact on the cryptocurrency, in the long term it is an important factor that should definitely be taken into account when analyzing financial markets.

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