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We have been sharing with you the important developments in the crypto currency markets every Sunday for a long time. Some of these developments are events that are expected to definitely increase volatility, so it’s important to be aware of them early on. Of course, cryptocurrencies are full of surprises, but experience tells us that these developments trigger the expected price movements.
Significant Crypto Developments
Following the approval of an ETF, crypto currency investors were met with sudden sales on January 12th. The fluctuation was the result of billions of dollars in sales. So, what important developments will determine the direction of cryptocurrencies in the next 7 days? What should investors expect?
January 22, Monday
- ID Token Unlock ($16.4 Million)
January 23, Tuesday
- DYDX Unlock ($1.73 Million)
January 24, Wednesday
- 17:45 US Manufacturing PMI (Previous: 47.9)
- 17:45 US Services PMI (Previous: 51.4)
January 25, Thursday
- 14:00 CBRT Interest Rate Decision (Previous: 42.5%)
- 16:30 US Core Durable Goods Orders
- 16:30 US GDP (Previous: 3.6%)
- Grayscale Ethereum ETF Decision
January 26, Friday
- 16:30 US Core PCE (Previous: 3.2%)
What’s Next for Cryptocurrencies?
Token unlocks may affect altcoin prices, but the PCE data is extremely important. To determine the stage of the fight against inflation, the Fed closely monitors this data. Recent data can be misleading due to base effects and reflecting year-end figures, but many areas, including employment, have received poor numbers.
At the end of the month, the Fed might focus on these figures to counter the market’s overly optimistic projection of a 150bp rate cut. We know that the interest rate decision to be announced on January 31st is expected to remain unchanged. However, upcoming statements have the potential to lower expectations for a 50% cut in March. This could be discouraging for the BTC front due to the interest rate cut after the halving.
In the coming days, we will see a lot for the spot ETH ETF. The SEC will give its initial decision on the Grayscale application. Here, a postponement is likely, and since the final decision will be in the middle of the year, no major movement is expected. A surprise rejection or approval could have significant effects on the ETF.
