According to the CME FedWatch Tool, the chances of 25-basis point rate cuts in October and December stand at 98.3% and 91.1%, respectively.
While Fed Chair Powell’s press conference will be crucial, traders should closely monitor US-China trade headlines.
Key Week Ahead: APEC Summit to Spotlight Trump-Xi Meeting
The coming week could drive flow trends for US BTC-spot ETFs and influence BTC’s price outlook.
US President Trump and Chinese President Xi Jinping are set to meet on Thursday, October 30. A US-China trade deal lowering duties on Chinese goods could lift sentiment. However, stalled talks and an escalation in trade tensions could trigger a flight-to-safety, weighing on BTC.
BTC tumbled 5.82% to an October 10 low of $107,573 and extended its losses after President Trump threatened an additional 100% levy on Chinese shipments bound for the US.
Bitcoin’s price recovery lifted demand for Ethereum (ETH).
ETH Eyes $4,000: Weak Spot-ETH Demand Caps Gains
While BTC boosted demand for cryptocurrencies, ETH-spot ETFs faced another week of net outflows, keeping ETH below the $4,000 level.
ETH has fallen 1.19% this week and dropped by 5.02% in October, underscoring the influence of spot ETF flows in price trends.
US ETH-spot ETF issuers saw net outflows of $243.9 million in the reporting week ending October 24, following net outflows of $311.8 million in the previous week. Despite the second week of outflows, ETH-spot ETF issuers have reported net inflows of $553.1 million in October, supporting the move back toward $4,000.
Explore our ETF flow deep-dive to see which tokens are winning the most capital.