With Bitcoin and the wider crypto market in a continued slump, traders should brace for potential price swings. Key US economic events this week may trigger shifts in the crypto market, affecting Bitcoin’s performance.Â
Bitcoin’s Current Position Bitcoin is currently trading around $54,800, showing a slight 0.7% increase in the last 24 hours. However, with September historically being Bitcoin’s weakest month, many experts predict further drops before a potential recovery in October.Â
Upcoming US Events to WatchÂ
    1. Trump vs. Harris Debate The upcoming debate between Donald Trump and Kamala Harris has placed crypto at the center of their campaigns. Harris is reportedly warming up to crypto-friendly policies, while Trump has expressed positive views about Bitcoin, gaining support from some in the industry.Â
Political meme coins linked to Trump have already experienced volatility, with some showing double-digit gains. The outcome of this debate could influence market sentiment.Â
    2. US CPI Report Inflation will be in the spotlight this week with the release of the August Consumer Price Index (CPI) on Wednesday, September 11. In July, inflation eased slightly, boosting Bitcoin’s performance. If August inflation continues to decline as economists predict, it could strengthen Bitcoin further. The Fed’s next interest rate decision may hinge on these numbers.Â
    3. Consumer Sentiment The University of Michigan’s consumer sentiment report, due September 13, will provide insight into how Americans feel about the economy. If consumer confidence remains strong, it could lead to more spending and investment in assets like Bitcoin. However, any negative sentiment about inflation or job security might cause crypto volatility.Â
In addition, Thursday’s jobless claims report could also affect market reactions by influencing views on the US economy’s health.Â
These events may have a significant impact on Bitcoin and other cryptocurrencies throughout the week, so traders should stay alert to any shifts in sentiment.Â
