The upcoming week holds significant developments, particularly in September. There are three key events that investors should closely monitor. Among these events is a crucial hearing in the ongoing case between the United States Securities and Exchange Commission (SEC) and Binance. The SEC recently accused Binance of failing to provide sufficient documentation for the case, despite agreeing to expedited discovery. The entity responsible for Binance’s US branch, BAM, submitted approximately 220 documents. However, the SEC contends that many of these consist of “unintelligible” screenshots. For further clarity, both parties filed a joint protective order to label sensitive information as confidential. On this note, the hearing to discuss this protective order is set for today at 13:00 ET.
While inflation data has historically influenced Bitcoin’s price, its effect is primarily news-related. Last week, the US Bureau of Labor Statistics released updated figures for its Consumer Price Index, which serves as a key metric for determining inflation in the country. This week, it is the European Union’s turn to publish its updated numbers. Scheduled for Tuesday, September 19th, at 12:00 PM CET, the EU will release the following data: Inflation Rate YoY Final, Inflation Rate MoM Final, CPI Final, and Core Inflation Rate YoY Final. Although the impact of this information on the market may be limited, it remains an essential watch for investors.
Wednesday holds greater significance for the global market, extending beyond cryptocurrencies. On this day, the US Federal Reserve will publicly announce their decision on interest rates, with Chairman Jerome Powell subsequently hosting a press conference. The schedule is as follows: the Fed’s interest rate decision at 2:00 PM ET, followed by Powell’s press conference at 2:30 PM ET. These events have the potential to significantly impact various markets globally, making it a crucial day for investors to keep an eye on developments.
Lastly, it is worth noting an upcoming deadline on Friday. This deadline pertains to proposals surrounding the potential relaunch of the unsuccessful FTX exchange. Although it remains uncertain as to whether this will significantly impact the market, it is still worth monitoring for any potential effects.
The current week brings several impending events with far-reaching implications. Apart from the ongoing case between the SEC and Binance, investors should pay attention to the inflation data release by the European Union and the interest rate decision and subsequent press conference from the US Federal Reserve. Additionally, the looming deadline for proposals related to the relaunch of the failed FTX exchange could present new opportunities for market participants. As the week progresses, vigilant observation of these events and their subsequent impact will be crucial for market participants to make informed decisions.