Key Events to Impact Bitcoin and Ethereum Price This Week

[ad_1]

Crypto News: The crypto market saw mild positive sentiment after BlackRock iShares spot Bitcoin ETF filed with the US SEC and crypto exchanges Binance and Coinbase cut some FUD after US SEC lawsuits. The price of the two biggest crypto assets Bitcoin (BTC) and Ethereum (ETH) recovered from the slide after the US Federal Reserve kept the interest rate unchanged, but signaled increases later this year.

Key Events to Impact Bitcoin, Ethereum Price

Bitcoin and Ethereum prices fell slightly today as investors grow cautious ahead of key crypto news and events this week. Yields on US Treasuries continue to climb amid a new issuance of Treasuries by the US Treasury Department. Meanwhile, the US Dollar remains weak after a “hawkish break” from the US Fed, with the US Dollar Index (DXY) slipping below 102.50. The price of bitcoin generally moves opposite to the yields of the US Treasury and the US dollar.

Investors await further guidance on monetary policy in the coming months from testimony by U.S. Fed Chairman Jerome Powell before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. Fed officials Lisa Cook and Philip N. Jefferson will also testify before the US Congress. In addition, six speeches by Fed officials, including James Bullard, John Williams and Raphael Bostic, are scheduled for this week.

Additionally, the Bank of England will announce its interest rate decision on Thursday, which is expected to raise rates an additional 25 basis points to curb inflation. Investors will also be eagerly awaiting further guidance from European Central Bank officials after the ECB raised rates another 25 basis points last week and signaled further tightening.

Also Read: Terra’s Do Kwon Comments on Forged Documents, South Korea Extradition and Political Ties in Montenegro

The release of inflation data by several countries and the Chinese central bank’s decision to revive activity through stimulus and other measures may also influence investors’ outlook this week.

The price of BTC fell 0.50% to $26,404, with a 24-hour low and high of $26,312 and $26,675, respectively. Meanwhile, ETH price is currently trading at $1724, down 0.5% in the last 24 hours. Crypto prices are mostly moving sideways amid market uncertainty.

Also Read: US District Court Approves Binance and US SEC Proposed Deal

ADVERTISEMENT

Varinder has 10 years of experience in the Fintech sector, including more than 5 years dedicated to blockchain, crypto and Web3 developments. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000 news, articles and articles. With CoinGape Media, Varinder believes in the enormous potential of these innovative technologies of the future. It currently covers all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

[ad_2]