Summary
- CME’s launch of Bitcoin Cash (BCH) and Uniswap (UNI) futures is one of this week’s main market catalysts.
- CoinShares’ halt in trading for its Bitcoin and Ether ETFs and token unlock schedules for LayerZero (ZRO) and others are also on the calendar.
- U.S. and euro-zone PMI data, major economies’ CPI releases and earnings reports from CME Group and Tesla are likely to influence the market.
Forecast Trend Report by Period
This week’s key drivers for the crypto market include CME’s planned launch of Bitcoin Cash and Uniswap futures, along with purchasing managers’ index data from the U.S., the euro zone and other major economies.
CoinDesk reported on Oct. 19 that CME Group plans to launch standard and micro futures tied to Bitcoin Cash, or BCH, and Uniswap, or UNI, subject to regulatory review.
On Oct. 21, CoinShares’ Bitcoin and Ether exchange-traded funds are scheduled to stop trading before the market opens as part of a liquidation process.
A series of macroeconomic releases is also due this week, including inflation and growth data from major economies. The U.S. will release September housing starts and building permits on Oct. 20, followed by the U.K.’s September consumer price index on Oct. 21.
On Oct. 22, the U.S. will release weekly initial jobless claims, the euro zone’s October consumer confidence index and Japan’s September CPI. On Oct. 23, the euro zone and the U.S. will publish preliminary October composite PMI readings. The University of Michigan’s final October consumer sentiment index is also due the same day.
Corporate earnings are also on deck. CME Group and Tesla are scheduled to report on Oct. 21, followed by Nasdaq and Blackstone on Oct. 22.
Ethereum developers will hold an All Core Devs Testing call on Oct. 19 to discuss testing for the Glamsterdam and Hegotá upgrades, among other topics.
In token unlocks, LayerZero is set to release about $44 million worth of tokens on Oct. 20, equal to 3.83% of its circulating supply. On Oct. 25, Humanity and Plasma are scheduled to add tokens equal to 6.84% and 5.02% of their respective circulating supplies to the market.
