Jackson Hole Symposium, U.S. PCE prices, IREN earnings: Crypto Week Ahead

Crypto Week Ahead is a comprehensive list of what's coming up in the world of cryptocurrencies and blockchain, as well as the major macroeconomic events that will influence digital asset markets.

Bitcoin BTC $ 77,451.96 is entering the final week of August with its strongest performance for the month in nearly a decade. BTC is up 23% month-to-date, on track for its best August since 2017, when it rose 65%, according to Coinglass data. The median return for the month is -7%.

Momentum now faces catalysts that include a plethora of U.S. economic data covering growth and inflation, along with the Jackson Hole symposium on Friday.

“Bitcoin enters next week with considerable momentum, but also with a much higher bar to clear after its strongest weekly rally in years,” Daniela Hathorn, a senior market analyst at Capital.com told CoinDesk. Fed Chair Kevin Warsh’s first keynote address during the event will be closely watched.

A speech that keeps further Fed tightening at arm’s length could preserve the weaker-dollar, lower-yield backdrop behind the rally, she said, while a hawkish surprise could trigger profit-taking.

Hong Yea, co-founder and CEO of crypto neobank Grvt, told CoinDesk the week will be shaped by the “collision of Jackson Hole with geopolitical risk.” That’s as uncertainty in the U.S.-Iran conflict lingers, while Russia’s invasion of Ukraine keeps threatening to escalate beyond a local conflict.

What to Watch

All times ET.

Crypto Aug. 24: Comments close on two joint SEC-CFTC requests covering derivatives product definitions and alternative compliance and swap data reporting, with relevance for crypto derivatives. Aug. 24, 10:30 p.m.: BNB Smart Chain activates its Pasteur hard fork.

Macro Aug. 25, 8:15 a.m.: U.S. ADP Employment Change Weekly (Prev. 9.5K) Aug. 25, 10 a.m.: U.S. CB Consumer Confidence for August est. 91.2 (Prev. 90.8) Aug. 25, 1 p.m.: U.S. Money Supply for July (Prev. $23.15T) Aug. 25, 9:30 p.m.: Australia Inflation Rate YoY for July (Prev. 3.8%); RBA Trimmed Mean CPI YoY (Prev. 3.6%) Aug. 26–28: U.S. Jackson Hole Symposium Aug. 26, 8:30 a.m.: U.S. Core PCE Price Index MoM for July est. 0.2% (Prev. 0.1%); Core PCE YoY est. 3.3% (Prev. 3.3%) Aug. 26, 8:30 a.m.: U.S. GDP Growth Rate QoQ (2nd est.) for Q2 est. 1.5% (Prev. 2.1%) Aug. 26, 9 p.m.: South Korea Interest Rate Decision (Prev. 2.75%) Aug. 27, 8:30 a.m.: U.S. Initial Jobless Claims for the week ended Aug. 22 est. 210K (Prev. 206K) Aug. 28, 10 a.m.: U.S. Michigan Consumer Sentiment Final for August est. 51.0 (Prev. 55.2); 1-Year Inflation Expectations est. 4.3% (Prev. 4.2%) Aug. 28, 10 a.m.: U.S. Non-Farm Payrolls Annual Revision Prel (Prev. -911K)

Earnings Aug. 27: IREN IREN $ 40.87 · At close Aug. 27: Hyperliquid Strategies (PURR), pre-market, $0.79

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