17.08.2026 15:22
Bitcoin started the week with a rise after a quiet weekend, reaching the $63,500 level at the time of writing. Although the calendar is calmer compared to last week, the Fed minutes and labor data coming from the US this week could trigger a new wave of volatility in the market.
The most anticipated development of the week will be the release of the minutes from the U.S. Federal Reserve's (Fed) July 28-29 meeting on Wednesday, August 19, at 9:00 PM Turkey time. Investors are focused on these minutes to find clues about the interest rate path and the September meeting.
The Fed kept interest rates unchanged for the fifth consecutive time at its late-July meeting. However, this decision also revealed a deepening divergence of opinion within the committee. Three officials voted in favor of a rate hike. Investors will try to understand the weight of inflation concerns in the minutes and to what extent other members are open to a rate hike. Expectations of tight monetary policy generally put pressure on speculative assets like cryptocurrencies.
RETAIL SALES DECLINE AFTER NINE MONTHS
Recent economic data have increased uncertainty in the picture. U.S. retail sales unexpectedly fell by 0.6% in July, recording the first decline in nine months. Recent unemployment and inflation data have also weakened expectations for a possible rate hike in September.
Another important data point the market will follow will be the weekly jobless claims, announced on Thursday, August 20, at 3:30 PM Turkey time. The data will provide an up-to-date view of the U.S. labor market. The August Philadelphia Fed Manufacturing Index, to be released at the same time, could also give an early signal of changes in economic activity.
ETHEREUM HOLDS ABOVE $1600
Cryptocurrencies traded quietly over the weekend, but most assets saw slight gains on Monday morning. Bitcoin rose to $63,400, while Ethereum traded around $1,625. XRP, on the other hand, continues its struggle for the psychological $1 support level.
Some altcoins also outperformed the broader market. On the WLFI side, the conditional national trust bank approval granted to the affiliated entity World Liberty Trust Company stood out.