The November CPI data is one of the key macro-events lined up to potentially define the course of the crypto market and dictate the Wall Street tempo alongside the Fed meeting decision. In a separate development this crypto-week, Bitcoin mining firm Argo Blockchain disclosed growing distress on Monday as it scrambles to explore options to remain operational. The former head of FTX, Sam Bankman-Fried, who resigned last month as the main corporate entity and its US subsidiary (FTX US) filed for bankruptcy, was placed in custody late on Monday.

Here are the specifics you need to know:

Market braces for the last CPI report of the year and FOMC rate decision

The November consumer price index (CPI) data from the Bureau of Labor Statistics is due later today. While the likelihood of the report delivering more surprises is slim, the data is expected to influence the market pace on a macro level slightly. Projections are that the report will bear a moderating, albeit benign, inflation print with a prediction of a 7.3% year-over-year figure from the previous 7.7% figure on an annualized basis.

Later this week, the Federal Reserve will hold a two-day meeting to review efforts to deflate the labor market and ease price pressures. Economists contend that the Fed is still boxed in as its attempts to find a compromise between recession and persistent inflation.

“Avoiding pain is not an option here. That’s just not on the menu […] What is on the menu is, ‘Do we…