Cryptocurrency markets extended their gains over the weekend, with Bitcoin maintaining its lead, dominating the sector while the rest continued to sleep.

Last week’s CPI data was in line with expectations, while producer price inflation came in above estimates. However, markets retreated after Fed Chairman Jerome Powell commented that policymakers are now on a more gradual path to easing monetary policy.

“The economy is not giving any signals that we need to rush to cut rates,” he said, adding to concerns that the central bank may not cut rates as much as previously expected.

Economic Events from November 18 to 22

This week will see manufacturing data and consumer sentiment reports, as well as a big earnings report from semiconductor giant Nvidia.

On Thursday, the preliminary S&P Global Manufacturing PMI and Services PMI reports for November will provide leading economic indicators that will provide timely information on changing economic conditions and potential inflation pressures.

On Friday, the preliminary data on the University of Michigan Consumer Sentiment Index and Consumer Inflation Expectations for November will be released. These data reflect the results of a monthly survey of consumer confidence levels and their views on long-term inflation. Consumer confidence levels affect spending, which accounts for about 70% of U.S. GDP.

A number of real estate reports, such as housing starts and existing home sales, are also expected this week, although they will not impact cryptocurrency markets.

The world's most valuable company, Nvidia, will report its third-quarter results after the bell on Wednesday. It is expected to report revenue growth driven by demand for artificial intelligence infrastructure.

Analysts expect the chipmaker’s revenue to rise 84% year-over-year to $33.3 billion, with net income jumping to $17.4 billion, or 70 cents per share.

This could have a big impact on AI-related digital assets such as Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Artificial Superintelligence Alliance (FET), all of which have seen activity in the past 24 hours.

Crypto Market Outlook

The cryptocurrency market cap remained relatively stable over the weekend, with the total volume at $3.18 trillion at the time of writing.

Bitcoin held above $90,000 for much of the weekend, recovering from a small dip below $89,000 during Asian trading on Monday morning to rise to $90,800 at the time of writing.

Ethereum hasn't shown any gains but has held at $3,100 for the past few days. Meanwhile, most altcoins have shown signs of recovery during Monday's Asian trading.

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