Highlights The crypto market awaits inflation data that could reshape Fed expectations. Jobless claims could influence rate expectations and cryptocurrency trading sentiment. Bitcoin accumulation continues despite liquidations, highlighting contrasting signals among traders.
The cryptocurrency market faces three economic tests this week as inflation and employment figures could reshape Federal Reserve expectations.
Bitcoin (BTC) traded near $74,922, Ethereum (ETH) around $2,122, and XRP price at $1.10 in Monday’s late trading. Investors are also tracking Iran diplomacy, falling oil prices, and signs of Bitcoin accumulation.
Tuesday’s October CPI Inflation Data Could Shape Crypto Sentiment
The October consumer price index is Tuesday's first big test on inflation with the release of Nov. 10. The markets were already betting that the FOMC would raise its interest rate by about 80% after Friday's employment report.
A better reading could reinforce tightening expectations and dampen cryptocurrencies by driving up the dollar and Treasury yields.
A softer finish might help take the pressure off, but a report would not create a trend of disinflation. A key concern is energy as traders evaluate the prospects for lower oil prices to help improve inflation expectations.
Thursday’s Initial Jobless Claims Put the US Labor Market in Focus
Thursday’s weekly claims release will provide another measure of layoffs after October’s stronger employment figures. If claims were to be lower, there would be more evidence of the economy's ability to handle tighter monetary policy.
Those numbers may be muddied by increased filings, especially if there are increased continuing claims.
Key Events This Week:
1. October CPI Inflation data - Tuesday
2. OPEC Monthly Report - Wednesday
3. Initial Jobless Claims data - Thursday
4. October Existing Home Sales data - Thursday
5. October PPI Inflation data - Friday
6. Total of 17 Fed Speaker Events This Week
We expect another volatile week ahead.
— The Kobeissi Letter (@KobeissiLetter) November 8, 2026
Traders will compare applications to last week, and watch for applications that show a sign of a wider trend. Weaker employment could ease rate pressure for crypto traders, with a more pronounced decline potentially leading to a broader risk off.
Friday’s October PPI Inflation Data Could Shift Fed Rate Expectations
Friday’s producer price index will track domestic producers’ selling prices, offering another perspective on inflation pressures.
A surprise on the upside would reinforce forecasts for further Fed rate hikes, whereas disappointing data would dampen speculation for such hikes. Market reaction to both inflation reports may be impacted by fed speeches this week.
Another factor affecting energy prices and investor confidence is geopolitical events. Trump has opened up negotiations with Qatar's prime minister, although an alleged $8 billion deal over Hormuz remains in question.
BREAKING: 🇺🇸 President Trump says he had an ‘excellent conversation’ with the Prime Minister of Qatar.
Key points:
1. All Middle East countries including Qatar, Saudi Arabia, UAE, prefer to continue the naval blockade on Iran.
2. They all agree that Iran ‘cannot’ have a nuclear weapon.
3. Strikes are unlikely to happen.
4. There is a ‘positive’ momentum to end the war soon.
— Bull Theory (@BullTheoryio) November 9, 2026
An Iranian official has refused to accept the terms and it is unclear whether there will be any concessions on shipment access and any permanent reduction in the oil.
Crypto Market Outlook: Bitcoin Accumulation, Liquidations and Price Trends
Bitcoin price fluctuated between $73,700 and $75,500 on Monday, while cryptocurrencies struggled to follow Wall Street’s rebound.
Total global crypto market capitalization hit $2.601 trillion with a daily gain of about 1%.
According to Coinglass figures, $275 million worth of liquidations took place, with $176 million from long positions.
Bitcoin open interest climbed 2.35% in a 24-hour period with Binance retail and large derivatives traders maintaining a net long position. Such an orientation may increase losses in the event of poor economic releases and drag down bullish sentiment.
Santiment reported that wallets holding one to ten BTC accumulated 10,076 BTC during the past two weeks. Another 4,131 BTC were accumulated in wallets containing ten to 100 BTC, and combined, 14,207 BTC were accumulated.
These buying activities indicate that there is buying interest during this low, but it cannot certify the bottom with wallet balances. This demand could determine whether BTC is going up or down next.
