The developments on the macro front have serious consequences for the cryptocurrency markets. Another busy week is starting. The price of Bitcoin has dropped due to the latest data not being very good. Of course, the Fud in the market as a whole has a big impact on the drop. Investors are now wondering whether $31,000 can be breached again as a critical week begins.
Cryptocurrencies Weekly Developments
The developments that will take place this week could determine the direction of the price in cryptocurrencies. As every Sunday, we share with you today the details, hours, and day information of the events that will occur in the market as a whole or specifically in altcoins.
July 10, Monday
- 17:00 Fed/Barr Will Speak
- 17:30 Fed/Daly Will Speak
- 18:00 US Consumer Inflation Expectations (Previous: 4.1%)
- 18:00 and 19:00 Fed/Mester and Bostic Will Speak
July 11, Tuesday
- 16:00 Fed/Bullard Will Speak
- Hedera (HBAR) v0.39 Upgrade
July 12, Wednesday
- 15:30 US Core Inflation (Monthly Expectation: 0.3%, Previous: 0.4%) (Annual Expectation: 5%, Previous: 5.3%)
- 15:30 US Inflation (Expectation: 3.1%, Previous: 4%)
- 16:45 Fed/Kashkari Will Speak
- APT Lock Opening ($32.17 Million)
July 13, Thursday
- 15:30 US Unemployment Benefits Applications (Expectation: 249K, Previous: 248K)
- 15:30 US Core PPI (Expectation: 2.8%, Previous: 2.8%)
- 15:30 US PPI (Monthly) (Expectation: 0.2%, Previous: -0.3%)
July 14, Friday
- 17:00 US Michigan Expectations
July 15, Saturday
- IMX Lock Opening ($12.6 Million)
- Impact of Cryptocurrencies
While one of the Fed members will stop talking, the other will speak, and the announcements to be made throughout the week are extremely important. It is likely that the interest rate decision to be taken at the end of the month will be shaped before the end of this week. The data is not coming in as good as expected, so the Fed could return to the interest rate hike it paused this month. On the other hand, skipping the increase this month could lift risk markets upwards with the expectation that the ceiling could have been declared. Inflation day volatility will be extremely high, so investors should be particularly careful on Wednesday, July 12.
There was a significant drop in the US PPI on a monthly basis last month, and it is important for the data to come this week to be below expectation. If the inflation data experiences a surprise increase, this could trigger sales in cryptocurrencies more quickly than expected.
