War, CPI and $28K BTC price — 5 things to know in Bitcoin this week

Bitcoin prepares for a testing macro week as geopolitical uncertainty injects volatility into gold, oil and the U.S. dollar, but BTC price action has yet to react.BTC price action continues to hold steady at $28,000, but what will happen next as markets react to the war in Israel?

Macroeconomic triggers are also far from lacking, with the coming days due to see the September print of the U.S. Consumer Price Index . In the wake of surprise employment data last week, the readout holds additional importance for the Federal Reserve. “October is generally the most bullish month of the year, thus I’m still expecting this one to break out upwards.”When it comes to price triggers, however, the unfolding conflict in Israel has Bitcoin and crypto market participants anticipating the bulk of volatility is still to come.

McGlone touched on an unfolding macro asset phenomenon, with gold up 1% on the day and Brent crude up 3.25% ahead of the Wall Street open. Beyond CPI, this week will see the Producer Price Index release, along with more jobless claims and a total of 12 Fed speakers delivering commentary. The minutes of the Fed meeting around the previous rates decision will also be unveiled on Oct. 11.“Huge week for inflation and the Fed,” financial commentary resource The Kobeissi Letter summarized in part of an X thread.

“If the trend towards side-chains and private transactions continues, we can expect less-and-less transactions to be captured in the public on-chain data ,” Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, wrote in part of his own research in 2019.Analyzing the NVT spike, crypto market intelligence platform IntoTheBlock suggested that it was representative of a broader metamorphosis.

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