November Crypto Economic Calendar: What’s on investors’ radar this month?

Last month brought a new Bitcoin all-time high, fresh US tariff threats, and another Fed rate cut, made with limited data amid the ongoing government shutdown, leaving markets in choppy territory. What’s in store for November? Here are the key events that could move markets. 

What happened in October?

October began with a new Bitcoin high of over $126,000, only for President Donald Trump to pour cold water on the rally with the announcement of 100% tariffs on Chinese imports on 6 October, sending Bitcoin and other crypto assets tumbling. US stocks also saw their biggest intraday drop since April, when the so-called tariff wars began. Crypto prices have been recovering since, trying to find footing, with occasional bursts of optimism but little sustained momentum.

The US government shutdown left most economic data unavailable during October, forcing the Fed to call in favours with furloughed staff to release the Consumer Price Index (CPI) numbers on 23 October. Lower-than-expected inflation injected some positive sentiment into markets, boosting expectations of an interest rate cut, which the Fed confirmed later in the month with a 0.25% reduction. Despite the volatility, Bitcoin finished October down just 3% over 30 days, considering it was at all-time highs earlier in the month.

What’s happening in November? 

Polkadot Hub upgrade 

4 November

Why investors care

The upgrade will merge Polkadot’s core services into a single chain, aiming to make the network easier to use, improve interoperability, and strengthen its role as a key ecosystem hub. This major technical and strategic upgrade could drive adoption and lift market sentiment.

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US unemployment data

7 November

Why investors care

Whether data will be released on time amid the ongoing US government shutdown is uncertain. With the Fed citing early stress signals in the jobs sector, investors will be watching closely to gauge the pace of future rate cuts. September’s data was missing, but estimates and private sources suggest the unemployment rate held around 4.34-4.35%, slightly above August’s 4.3%.

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US-China tariff negotiations deadline

10 November

Why investors care

Markets have been volatile since the US announced renewed tariffs on Chinese imports. President Trump and President Xi Jinping are set to meet in early November to discuss a path forward. The deadline for a trade truce is 10 November, and if no agreement is reached, tariffs could rise again, escalating tensions between the world’s two largest economies and sending ripples through financial markets.

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US inflation

13 November 

Why investors care

Inflation directly influences the Fed’s monetary policy, and October’s release showed a modest rise that was lower than expected, giving a lift to crypto and stock markets. The Consumer Price Index (CPI) increased 0.3% month-on-month (seasonally adjusted), down from August’s 0.4% rise. Over 12 months, CPI rose 3.0%, slightly above August’s 2.9% increase.

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FOMC minutes 

19 November 

Why investors care

With the Fed cutting rates by 0.25% in two consecutive meetings, investors will be looking for the rationale and the level of division among policymakers. At the last meeting, the panel was split, and Fed Chair Jerome Powell sounded relatively hawkish on further cuts this year, mentioning, among other things, the lack of data caused by the government shutdown.

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Crypto ETFs deadline

November/December

Why investors care

The SEC’s decision on several crypto exchange-traded funds was delayed in October due to the government shutdown. Reports suggest a ruling could come in late November or December, depending on when furloughed government employees return.

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Mt. Gox repayments deadline

Postponed

Why investors care

The postponed repayment deadline for October has been extended by a full year to October 2026. Some market commentators warn that these payouts could trigger selling pressure on Bitcoin and other assets, as long-waiting creditors may liquidate their holdings. Arkham data shows Mt. Gox still holds around 34,689 BTC, worth nearly $4 billion at current prices.

*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.