Key Events To Impact Bitcoin, Ethereum Price This Week

Crypto News: The crypto market witnessed slight positive sentiment following the filing of BlackRock iShares spot Bitcoin ETF with the US SEC and crypto exchanges Binance and Coinbase reduced some FUD after the US SEC lawsuits. The two largest crypto assets Bitcoin (BTC) and Ethereum (ETH) price recovered from fall after the US Federal Reserve kept the interest rate unchanged, but signaled hikes later this year.

Key Events To Impact Bitcoin, Ethereum Price

Bitcoin and Ethereum prices fell slightly today as investors turn cautious ahead of key crypto news and events this week. US treasury yields continue to climb amid new T-bills issue by the US Treasury Dept. Meanwhile, the US dollar remains weak after a “hawkish pause” by the US Fed, with the US dollar index (DXY) sliding below 102.50. Bitcoin price typically moves opposite to the US treasury yields and the US dollar.

Investors look for fresh guidance on monetary policy in the coming months from US Fed Chair Jerome Powell’s testimony in 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. Also, six Fed officials including James Bullard, John Williams, and Raphael Bostic speeches are scheduled for this week.

Moreover, the Bank of England will announce its interest rate decision on Thursday, expected to hike rates by another 25 bps to curb inflation. Investors will also look forward to fresh guidance from European Central Bank officials after the ECB hiked rate by another 25 bps last week and signaled further tightening.

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Inflation data release by several countries and China’s central bank decision on bringing back activity through stimulus and other measures can also influence investors’ outlook this week.

BTC price fell 0.50% to $26404, with 24-hour low and high of $26312 and $26675, respectively. Meanwhile, ETH price currently trades at $1724, down 0.5% in the last 24 hours. Crypto prices mostly moving sideways amid uncertainty in the market.

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

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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