Key Events of the Week
The upcoming week holds significant importance for September, with several major events and developments on the horizon.
Beginning with Monday, an essential legal proceeding is set to occur in the ongoing dispute between the United States Securities and Exchange Commission and Binance. This case has garnered attention due to allegations regarding insufficient documentation from Binance, despite earlier commitments to expedite the legal process. The organization overseeing Binance's US operations, BAM, has submitted around 220 documents. However, the SEC contends that a significant portion of these documents consists of unclear screenshots. Additionally, both parties have jointly proposed a protective order to safeguard sensitive information.
Shifting our focus to Tuesday, inflation data often impacts Bitcoin's price, primarily due to its influence on the news cycle. Last week, the US Bureau of Labor Statistics released updated figures for the Consumer Price Index, a crucial metric for gauging inflation in the United States. This week, the European Union is expected to follow suit and release their own updated numbers, including the Inflation Rate YoY Final, Inflation Rate MoM Final, CPI Final, and Core Inflation Rate YoY Final, scheduled for Tuesday at 12:00 PM CET.
Moving into Wednesday, the market is poised for notable shifts, anticipating two significant events that could reverberate globally, extending beyond the cryptocurrency realm. The US Federal Reserve will announce its decision regarding interest rates, accompanied by a press conference led by Chairman Jerome Powell. The scheduled timing for these events is as follows: Fed interest rate decision at 2:00 PM ET and Fed Chair Jerome Powell's press conference at 2:30 PM ET.
Lastly, as we approach Friday, there's another deadline on the horizon that might influence the market. It involves proposals for the potential relaunch of the unsuccessful FTX exchange, and it'll be intriguing to observe any market reactions to this development.