The market has entered this week defensively as Bitcoin traded around $63K while Ethereum hovered near 1,800, with ETF outflows explaining short-term price pressure.
The Crypto Fear and Greed Index is currently at 37, indicating traders are cautious but optimistic.
What Traders Should Watch Out for This Week
The main event this week is the release of the FOMC meeting minutes on Wednesday. Think of these as a “behind-the-scenes” look at the Federal Reserve’s private debates over rates and future policy moves. These notes will give us a better idea of where inflation policies are headed next.
Meanwhile, the Senate has left Washington for a five-week recess without voting on the CLARITY Act. Because they are on recess, this specific piece of legislation won’t have any impact on the markets this week.
Additionally, the ongoing Middle East conflict threatens diplomatic frameworks and energy market stability, and AI stocks remain a major competing destination for risk capital, as traders want to see clearer evidence that economic weakness is bringing rate cuts closer.
Here are the major economic indicators to watch out for this week:
- August 17: Empire State manufacturing survey, NAHB housing market index
- August 18: Housing starts, import prices, industrial production, capacity utilization %
- August 19: Federal Open Market Committee meeting minutes published
- August 20: Weekly jobless claims
- August 21: US flash manufacturing PMI and services PMI
