A moderate week lies ahead on the United States economic calendar due to the ongoing government shutdown, but crypto markets are on a high after the weekend’s Bitcoin price peak.
Crypto markets are currently trading at all-time highs in terms of total market capitalization following Bitcoin’s surge to a record high of $125,500 on Sunday.
Cryptocurrencies and stocks continued to remain largely unfazed by the US government shutdown, which entered its third day last week.
Last week’s jobs reports indicated further labor market weakness, while the ISM Services index fell, indicating stagnation. Both would be more fuel for the Federal Reserve to cut rates again later this month.
The week ahead sees more Fed speeches and consumer sentiment data, but activity remains muted due to the ongoing shutdown.
Economic Events October 6 to 10
Most US government shutdowns have lasted only a few days, with no significant impact on the broader economy, which is why markets have largely brushed it off.
Tuesday will see the New York Fed inflation expectations reports, which shed light on predictions for future trends in inflation. Inflation has increased from 2.3% in April to 2.9% in August, as the impact of trade tariffs continues to take effect.
The Fed’s September meeting minutes are scheduled for release on Wednesday, and central bank Chair Jerome Powell will speak on Thursday.
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Fed governor Michal Barr gives two speeches in the Midwest while St. Louis Fed President Alberto Musalem gives opening remarks at a conference. Investors will be watching to see how the Fed responds to the lack of economic data during the shutdown.
Friday will see some consumer expectations reports and the all-important September jobs report if the shutdown ends by then.
Key Events This Week:
1. NY Fed Inflation Expectations data – Tuesday
2. Fed Meeting Minutes – Wednesday
3. Fed Chair Powell Speaks – Thursday
4. MI Consumer Sentiment data – Friday
5. MI Consumer Expectations data – Friday
6. September Jobs Report (if shutdown ends) -…
— The Kobeissi Letter (@KobeissiLetter) October 5, 2025
Crypto Market Outlook
The crypto market’s total capitalization reached an all-time high of $4.32 trillion early Monday morning in Asia, as crypto assets held onto weekend gains.
Bitcoin hit a record high of $125,500 (higher on some exchanges) on Sunday and has retreated to the $124,000 level at the time of writing. Analysts are confident that this is just the beginning of the ‘Uptober’ and Q4 rally that will see the asset surge to $150,000 or higher.
Ether briefly reached $4,600 at the time of Bitcoin’s peak but was unable to make further progress above that, falling back to $4,537 at the time of writing.
Most of the altcoins pumped a little but are now falling back as Big Brother took the limelight again.
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