Macro-Crypto Nexus: Key Events & Liquidity Drivers This Week
As markets navigate a period of shifting rate expectations, mixed growth signals, and evolving regulatory narratives, both traditional assets and crypto markets are becoming increasingly sensitive to scheduled macro events and liquidity conditions across regions.
This week, a cluster of high-impact economic releases, central bank communications, and crypto network developments could influence risk sentiment, FX flows, and volatility across digital assets.Below is your comprehensive cross-market calendar for the week.
Macro Events That Matter Most This Week
The following categories of releases from the Economic Calendar have historically produced the largest market reactions:
Event Category | Region Focus | Why It Matters for Markets | Dates |
|---|---|---|---|
Central Bank Meetings & Speeches | Fed, ECB, BOE, BOJ, PBoC | Rate outlook, which impacts global liquidity & risk appetite. | Mon, Nov 10, 8:50 JST (7:50 SGT). Official release of the BOJ’s post-meeting views from Oct 29–30—often a key signal on near-term rate bias. Federal Reserve — public remarks (Waller, Miran) Mon, Nov 10 (US time). Fed calendar lists same-day discussions by Gov. Waller and Gov. Stephen Miran (policy color can sway USTs/DXY/crypto beta). ECB — official weekly speaking/indicator is scheduled on Nov 12–14 (CET releases/speeches across the week). (Use for heads-up on euro-rate tone; exact speakers vary.) |
Inflation Prints (CPI, PPI) | U.S., Eurozone, China | Inflation surprises directly shift rate expectations. | United States CPI Thu, Nov 13, 8:30 ET (Thu 21:30 SGT). Top-tier risk event for rate expectations and real yields. United States PPI Fri, Nov 14, 8:30 ET (Fri 21:30 SGT). Wholesale inflation often bleeds into PCE expectations. (China CPI/PPI for Oct printed on Sun, Nov 9—just outside your window.) |
GDP Releases & Revisions | U.S., China, EU | Signals economic momentum and earnings outlook. | Euro area GDP & Employment, Q3 2025 — flash/update Thu, Nov 13 (CET). Second/publication update to the Q3 flash (growth & jobs—EU risk tone). |
Manufacturing & Services PMIs | U.S., EU, Asia | Leading indicators for growth cycles and sentiment. | No major US/EU/JP PMI set pieces in this window. Final October PMIs were Nov 3–5; next "flash" PMIs are Nov 21 (useful forward-look beyond this week). |
Labor Market Data (e.g., U.S. Non-Farm Payrolls) | U.S. | High-impact indicator tied to Federal Reserve policy credibility. | Initial Jobless Claims (weekly) Thu, Nov 13, 8:30 ET (Thu 21:30 HKT). High-frequency gauge of labor momentum—feeds into the Fed path |
Source: https://www.investing.com/economic-calendar/
These releases frequently drive intraday volatility in:
USD / JPY / CNH / EUR pairs
S&P 500 / Nasdaq futures
Gold & oil
Bitcoin and Ethereum (through liquidity flows and dollar index correlation)
A hotter inflation print or hawkish tone tends to suppress altcoin performance, while dovish signals often encourage beta rotation into higher-volatility crypto assets.
Market Closures & Public Holidays
Shortened trading hours and regional holidays can thin liquidity, causing sharper price swings in crypto and FX.
Region / Market | Holiday / Session Status | Liquidity Impact | Notes for Crypto & FX | Dates |
|---|---|---|---|---|
United States | Veterans Day – U.S. Bond Markets Closed, U.S. Stock Markets Open (Equities operate normally; Treasuries shut) | Reduced institutional flow, particularly in rates & USD markets; crypto liquidity thins during the U.S. session | Expect higher intraday volatility in BTC/ETH, especially during U.S. afternoon when futures markets dominate price discovery. | Nov 11, 2025 |
Japan | Labor Thanksgiving Day Observed (Markets Closed on Mon, Nov 24) | Asian session liquidity drops, Tokyo interbank desks offline | Although this falls just outside Nov 10–16 focus, teams should front-load positioning late week of Nov 17; Monday Nov 24 tends to show spiky moves in BTC/JPY pairs. | Nov 23 → Observed Monday, Nov 24, 2025 |
Eurozone | Markets Open | Normal European liquidity | However, ECB communications and macro releases still drive EUR and cross-asset flows—thin liquidity from U.S. bond closure (Nov 11) can spill into Europe → wider FX spreads. | No Major Exchange Holiday in Europe During Nov 10–16, 2025 |
Source: https://www.investing.com/holiday-calendar/
Why Does It Matter?
Nov 11 (U.S. Bond Market Closed)
Crypto frequently becomes the "risk thermometer" when Treasuries are offline → movement in BTC tends to be sharper, based on:
Derivatives positioning
Orderbook depth on offshore exchanges
Stablecoin issuance flows
Japan Session Liquidity Sensitivity
The JPY/BTC correlation has historically been reliable during BOJ sensitivity periods.
Even though Japan's observed closure is the following week, traders reduce the risk ahead of it, which starts Nov 14–15.
Crypto-Specific Catalysts to Watch
Catalyst Type | Example Impact | Why It Matters | Dates |
|---|---|---|---|
Mainnet Upgrades / Hard Forks | L1/L2 infrastructure chains | Can shift TVL, staking incentives, and cross-chain liquidity. | Nov 11, 2025: Starknet V0.14.1 Testnet Release |
Token Unlocks / Vesting Cliffs | Large unlocks in DeFi or gaming tokens | Can introduce sell-side pressure short term. | Nov 11, 2025 Aptos – “11.31 MM Token Unlock” Slash Vision Labs – “4.81 MM Token Unlock” PEAQ – Two-phase mint POL (ex-MATIC) – Binance Square AMA at 12:30 UTC |
Major Crypto Conferences | Asia, U.S., Dubai cycles | Narrative momentum + project announcements often cluster. | Nov 12, 2025 A New Horizon – DeFi event in NYC, 2 PM UTC Nov 14-16, 2025 Sub0 – 3-day Polkadot flagship conference, Buenos Aires |
Source: https://coinmarketcap.com/events/
Crypto is currently in a regime where liquidity and narrative timing matter as much as fundamentals. Supply unlocks and network upgrades should be monitored weekly alongside macro.
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