This week, the focus is on key developments in cryptocurrencies, including macroeconomic updates and significant events affecting altcoins. The previous week’s performance saw Bitcoin falling short of expectations, while altcoins experienced greater losses. Investors are keen to know what might influence the market from July 1st to July 7th.
Major Events to Watch?
Macroeconomic factors, crucial unlocks, and announcements specific to altcoins can considerably influence cryptocurrency prices. Such developments often lead to volatility, impacting investors‘ risk appetite and market perspectives. To help investors stay prepared, here are the critical happenings for the upcoming week.
Starting Monday, July 1st, significant events include a speech by the European Central Bank President at 22:00, Wanchain’s announcement, and submissions of 13F reports to the SEC, which reveal companies’ ETF holdings. Additionally, notable unlocks such as $50 million in SUI tokens and $23.6 million in IO Coins are anticipated.
How Will Macroeconomic Shifts Affect Crypto?
Tuesday, July 2nd, will see Eurozone inflation data release, Powell’s speech, and the US JOLTS report. Wednesday, July 3rd, will be marked by several significant releases, including Turkey’s CPI, ADP Non-Farm Employment Change, and FOMC minutes, amidst the US half-day holiday. The US holiday on Thursday, July 4th, will likely result in reduced market activity.
Friday, July 5th, brings critical US employment data, including average hourly earnings, non-farm employment, and the unemployment rate. Additionally, the Fed Monetary Policy Report is expected at 18:00, which could influence market sentiment.
Key Insights for Investors
– Monitor Eurozone inflation data and Powell’s speech on July 2nd for potential market impacts.
– Pay attention to Turkey’s CPI and FOMC minutes on July 3rd for clues on BTC price movements.
– July 5th’s employment data in the US could be pivotal for cryptocurrency market trends.
On Friday, macroeconomic factors such as wage increases and employment data are expected to have a direct impact on Bitcoin prices. Additionally, the Fed minutes could provide optimistic details boosting BTC prices. Furthermore, the SEC will receive 13F forms, showcasing ETF investment trends, which might indicate significant market movements.