Week ahead: Fed speech and NFP likely to dictate crypto market moves this week

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With the start of 2023’s fourth quarter, things are finally getting interesting in crypto. While the next 12 weeks are extremely important, let’s star

Nonfarm Payrolls data arrives on October 5. Nearly $40 million worth of altcoin unlocks from October 2 through October 6. The Federal Reserve Chairman Jerome Powell has been repeating the same thing for the past year – the Fed’s decision is data-driven. The Nonfarm Payrolls figure on October 5 will dictate if the Fed will keep interest rates higher for longer or choose to hike.

Now that Bitcoin price has arrived at the $28,138 resistance level, investors need to tread carefully. A flip of the aforementioned level into the support floor has two implications:, investors need to wait to see how BTC reacts to the $28,138 hurdle. Rejection could take BTC $26,000, but a flip of the key hurdle could propel the pioneer crypto to $30,000 and higher. Regardless, traders need to be cautious. According to the TokenUnlocks website, SUI, IMX and DYDX tokens worth $37.

Chainlink price has breached a 15-month resistance level around $7.80, signaling a trend reversal. This move could soon propel LINK to $10. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

 

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