Summary
- More events next week might affect Bitcoin’s price, including an IMF-World Bank meeting.
- BTC is closing the current week, above $68,000 levels, after spiking earlier above $68,700.
The next week brings important political and economic events that could affect the trajectory of Bitcoin’s price, as revealed via a new post on X by Greeks.live.
Top Events Between October 21-27 That Could Potentially Affect BTC Price
Here are the most important events of the upcoming week that could affect the trajectory of Bitcoin and the entire crypto market.
- The 2024 Securities Industry and Financial Markets Association of America (SIFMA) meeting is tomorrow. (October 21)
- The 2025 FOMC Vote takes place and the Kansas Fed President Schmid will speak on the outlook for the economy and monetary policy. (October 22)
- IMF will public the Global Economic Outlook report. (October 22)
- Bank of Canada will announce interest rate resolution and the monetary policy report. (October 23)
- The IMF-World Bank annual meeting will take place. (October 23)
- Bank of Japan’s governor will speak at the IMF-sponsored Governors’ Meeting. (October 24)
- The Federal Reserve will release its Brown Book on economic conditions. (October 24)
- The US initial jobless claims for the week will be released. (October 24)
- US final University of Michigan consumer confidence index for October will be released. (October 25)
Greeks.live highlighted in their recent post that the market’s expectations for the next interest rate cut have been more unified lately, and the data can impact Bitcoin’s price as previously seen.
Bitcoin Closes the Current Week Above $68,000
At the moment of writing this article, BTC is trading above the important level of $68,500, up by about 1% in the past 24 hours.
Earlier BTC recorded a spike in price above $68,700 levels, following a strong rally this week.
BTC’s price surge debuted on October 14, when the coin kicked off a rally from around the $62,000 level and continued throughout the week.
This price rise was sustained by more factors including continuous BTC ETF flows which showed a much stronger performance compared to gold ETFs in their first year, strong whale accumulation, and political factors.
Bitcoin and the Crypto Market Outlook
BTC’s price rise near $70,000 levels has been recently correlated by Bernstein analysts with the surging odds of a Donald Trump win in the upcoming US elections.
He topped 60% chances of a presidential win according to data on Polymarket and this supported BTC’s price surge.
According to Greeks.live. the IV of the election cycle rights remain relatively firm. They noted that Bitcoin’s major term IVs are currently at the center of attention, and this is a good opportunity to lay out some medium to long-term calls this week.
