These events will shake up the cryptocurrency market this week!

11:00 ▪ 3 min read ▪ by Eddy S.

This week is shaping up to be a pivotal one for the crypto universe. Three major events are likely to cause a stir across the entire market! Here’s a detailed look at these events and their potential impact.

Decisive week for crypto with Ethereum ETF in sight!

A pivotal week opens for the crypto industry with these three major events.

• The first event is the potential launch of Ethereum ETFs. The Securities and Exchange Commission (SEC) could finalize its approval of Ethereum spot ETFs by this week or later. July 15, 2024 This long-awaited move is expected to mark a turning point in the institutionalization of crypto and democratize investing in Ethereum. While the launch of Bitcoin ETFs has been a resounding success, investor enthusiasm for Ethereum spot ETFs remains to be confirmed.

• The second event is the release of key US Consumer Price Index (CPI) data this Thursday, July 11. CPI is a key tool to measure the evolution of purchasing trends and inflation. A higher than expected reading is considered positive for the USD! While a lower than expected result is interpreted as negative. CPI data can influence monetary policy decisions and, therefore, have a significant impact on financial markets, including cryptocurrencies.

Finally regulatory clarity on cryptocurrencies?

The third, and probably most important, event is a series of important votes on cryptocurrency legislation. The U.S. House of Representatives is expected to vote on the FIT21 bill, which seeks to relax regulations on cryptocurrencies. The vote, which will likely take place Tuesday or Wednesday, is a key step toward legislative clarity. It could influence how digital assets are regulated and treated in the future.

These three events could have significant impact on the cryptocurrency marketThe launch of Ethereum ETFs could attract new institutional investors, while CPI data could change expectations for monetary policy. Finally, votes on legislation could determine how free or restricted cryptocurrencies can be traded and used. Market participants should therefore remain vigilant and ready to react to these potential developments.

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Eddy S.

The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at heart, I am interested in everything that is closely or remotely related to blockchain and its derivatives. With a view to sharing my experience and making known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.

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