He Bitcoin will have a hectic week due to the macro environment, which puts the company at risk cryptocurrency pierce its current value, which remains above the $26,000However, some economic events could impact the price of the asset.
It should be remembered that the market cryptocurrencies experienced difficulties since the United States Securities and Exchange Commission (SEC) filed lawsuits against Coinbase and Binance. However, the industry is optimistic about maintaining the floor of US$26,000.
Bitcoin: the events to watch out for this week
Binance and the SEC reached an agreement to allow the platform to continue operating in the United States. In addition, the uncertainty surrounding the cryptocurrency sector dissipated with theto Bitcoin exchange-traded fund proposal by BlackRock.
As a result, Bitcoin showed a recovery after his last fallespecially after the Federal Reserve decided to keep interest rates unchanged.
Investors in the crypto market are in “e” modewait and see“, since the lack of a clear direction characterizes the largest cryptocurrency by market cap at the start of a new trading week.
Holidays in the United States mean that traditional markets They will not open until June 20which gives at least one day of grace before surprises occur in the cryptoactive market.
In this context, the prices of cryptocurrencies experienced a slight drop this Monday June 19as market participants are awaiting upcoming economic events this week.
Market analysts believe that the recent pause by the Federal Reserve continues to weaken to US dollar. Falls in the dollar index have boosted Bitcoin, as the cryptocurrency moves in the opposite direction of the US dollar and Treasury yields.
Central banks and cryptocurrencies
The Chairman of the Federal Reserve, Jerome Powellwill testify before the House Financial Services Committee on June 21, followed by an appearance before the Senate Banking Committee the next day. Investors expect to find signs about the new directions monetary policy for the coming months.
Fed officials, Philip Jefferson and Lisa CookThey will also appear before the United States Congress.
Meanwhile, the bank of england will reveal its new interest rate on Thursday. Given the high level of inflation, market analystsstill discounting another increase of 25 basis points. In addition, traders will be attentive to the new financial guidance from the European Central Bank. after the increase in interest rates last week.
Various nations will announce your inflation figures in the coming week. In addition, China’s decision to implement stimulus and other measures to revive the economy will likely will influence the cryptocurrency markets in the next seven days.
The next week seems to be full of events for cryptocurrency investorsso investors should be aware of all economic events that may affect prices and thus make decisions as well informed as possible.
Source: Ambito
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