This week, the crypto market is set to experience significant shifts due to several key events. The Bitcoin Conference, anticipated Ethereum ETF approval, and important economic data releases like the PCE inflation and US GDP are in focus.
The digital assets space is preparing for a crucial week. Macroeconomic factors will shape market sentiment. One key event is the anticipated Spot Ethereum ETF approval by the US SEC. This approval could greatly impact the market.
Experts predict a bullish crypto market this week. Positive announcements are anticipated. One major factor is the US Q2 GDP, expected to grow at 1.9%, up from 1.4% in the previous period. This growth could influence the global cryptocurrency market.
The upcoming GDP data will help the central bank decide on potential policy rate changes. According to the CME FedWatch Tool, a rate cut is anticipated in September. However, the GDP data will likely influence the Federal Reserve’s decision. Another key economic indicator, the U.S. PCE Inflation data, will be released this week. Investors will closely track these figures to gauge the Federal Reserve’s rate hike plans. Recent cooling of U.S. CPI data suggests a dovish stance, but hotter-than-expected PCE data could negatively impact the crypto market.
The Bitcoin Conference this week is expected to have a significant impact. Donald Trump is anticipated to speak at the event. There is speculation he might announce Bitcoin as a reserve asset for the U.S. Experts believe the conference could act as a catalyst, potentially driving up Bitcoin price and the overall crypto landscape.
Another crucial event is the potential approval of the Ethereum ETF by the U.S. SEC. Many experts anticipate that the Ethereum ETF could start trading on July 23. This approval would mark a significant milestone, reflecting growing institutional interest and confidence in Ethereum.
The market’s outlook remains optimistic. Multiple factors are aligning to potentially drive prices higher. However, the crypto market is not without its volatile nature. Investors should exercise due diligence before making any bets on the market.
