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The unexpected SEC lawsuits were the surprise event of the week. However, the most critical week of the month in the macro front is upon us. Volatility could increase. We will witness a series of critical developments this week, from the Fed interest decision to many more. There will be highly important news flows affecting cryptocurrencies in particular and crypto in general. As every Sunday, we share these developments with you today.
Developments Concerning Cryptocurrencies
The agenda for cryptocurrencies will be busy during the week of June 12-18. Below, you see a summary of each day with day and time details. The second section includes expectations and comments on these developments.
On June 12, Monday,
- U.S. Consumer Inflation Expectations (Previous: 4.4%) will be announced at 18:00.
- Aptos (APT) Unlocking will occur, involving $33.6 million.
On June 13, Tuesday,
- U.S. Core CPI (Monthly) (Expectation: 0.4% Previous: 0.4%),
- U.S. CPI (Monthly) (Expectation: 0.3% Previous: 0.4%),
- U.S. CPI (Previous: 4.9%) will be announced at 15:30.
- The Ripple Lawsuit Hinman Documents will be published (Final Day),
- and the U.S. House of Representatives will discuss the Stablecoin Bill.
On June 14, Wednesday,
- U.S. Core PPI (Yearly) (Expectation: 2.6% Previous: 3.2%) will be announced at 15:30.
- At 21:00, Fed Annual Interest Predictions and Fed Interest Decision (Expectation: Interest Rates Remaining Unchanged) will be made.
- Fed Chairman will speak at 21:30.
- Blur Unlocking will occur, involving $80.9 million.
On June 15, Thursday,
- China Industrial Production (Yearly) (Expectation: 4.1% Previous: 5.6%) will be announced at 05:00.
- ECB (EU) Interest Decision (Expectation: 25bp Increase),
- U.S. Core Retail Sales (Monthly) (Previous: 0.4%),
- U.S. Unemployment Claims (Previous: 261K),
- U.S. Retail Sales (Monthly) (Previous: 0.4%) will be announced at 15:30.
- BitDAO Unlocking will occur, involving $89.6 million.
On June 16, Friday,
- Eurozone Inflation (Expectation: 6.1% Previous: 7%) will be announced at 12:00.
- Fed/Waller will speak at 14:45. U.S.
- Michigan Expectations will be announced at 17:00.
How Will Cryptocurrencies Be Affected?
The most critical days of the week are June 13 and 14. If the upcoming inflation data is as low as expected, the interest decision will largely be determined. Interest rates are expected to remain unchanged for now. The crypto legislation discussions in the U.S. House of Representatives will also be closely monitored. This bill, which will resolve the uncertainty about stablecoins, will allow crypto to be legally recognized by the U.S.
The interest decision is, as always, the most critical event, but the statements to be made by the Fed Chairman this month are slightly more important. Since the decision has largely been clarified, Powell’s language will be decisive for investors. Powell had previously stated that if they stop interest rate increases, they will not restart them. If we see a dovish tone in this meeting, we could witness rapid rises in the market.
