5 Events To Look Out For This Week In The Digital Assets Market

According to Greeks.live, a crypto options-trading toolkit provider, all major asset classes are adjusting their pricing for the impending end of the rate hike cycle. The platform provided a list of the significant events expected this week that could shape the digital assets market.

In a recent post on X (formerly Twitter), Greek.live noted that the digital assets market will go through its “coldest” time of the year as Christmas approaches. Hence, there have been fewer crypto events, and focusing on the inflows and outflows in the more capitalized assets has become critical.

Greeks.live noted that Bittrex Global will close operations on Monday, December 4. According to an earlier announcement, the crypto exchange told users it would disable all trading activities on its platform today, after which customers will become conditioned to withdraw assets as part of a winding-down process.

Two days after the Bittrex shutdown, Canada’s apex bank, the Bank of Canada, will announce its decision on the target for the overnight rate. According to reports, a press release will follow the announcement to briefly explain the decision, and digital asset traders will be keen on this outcome and how it would impact the trading ecosystem.

By Thursday, December 7, the US will release the initial jobless claims for the week. It would provide information on the number of Americans filing for unemployment benefits and usually impacts the labor market. Last week’s data showed an improvement in the economy as the jobless claims dropped by 24,000 to 209,000.

The US will release two critical data on Friday, December 8. They include the US unemployment rate for November and the quarterly nonfarm payroll. Those two are crucial data that usually impact the digital assets market. Greeks.live expects users to pay close attention to market movements before and after the relevant events and adopt investment strategies accordingly.