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Cryptocurrency markets are gearing up for an exciting week with increasing volatility. In the coming hours, we will see more of the anxiety caused by the upcoming Fed meeting on investors. Significant developments are expected over the next 7 days.
Important Developments in Cryptocurrencies
Exactly one week ago, we mentioned that Friday, June 7, could trigger a major breakout. Subsequently, we saw drops exceeding 20% in altcoins. This was not surprising because important data that could affect the 2024 interest rate path would be released before the Fed meeting. So, what will cryptocurrency investors see over the next 7 days?
June 10, Monday
- Apple Worldwide Developers Conference
June 11, Tuesday
- 22:00-23:00 Floki Marketing Announcement
- Biconomy Announcement
- IO Coin Listings
June 12, Wednesday
- 15:30 US Core Consumer Price Index (Expectation: 3.5% Previous: 3.6%)
- 15:30 US Consumer Price Index (CPI) (Expectation and Previous 3.4%)
- 21:00 Fed Interest Rate Decision
- 21:00 Fed 3-Year Interest Rate Projections
- 21:30 Powell Interest Rate Decision Announcement
- APT Unlocking ($92 Million)
June 13, Thursday
- 15:30 US Jobless Claims (Expectation: 222K Previous: 229K)
- 15:30 US PPI (Expectation and Previous 2.2%)
- 19:00 Fed/Williams
- 19:00 US Treasury Secretary Yellen to Speak
- ASI Token Launch (FET, AGIX, and OCEAN Token Conversions Complete June 11-13)
- zkSync Airdrop
June 14, Friday
- 21:00 Fed/Goolsbee to Speak
June 15, Saturday
- STRK ($72.3 Million)
Cryptocurrency Investors’ Comments
The inflation data to be released on Wednesday will further shape market views for 2024 ahead of the Fed interest rate decision. If inflation is announced below expectations, this could increase investors’ risk appetite. In the opposite scenario, the Fed may consider making lower rate cuts this year or even pausing cuts.
On Wednesday evening, the 3-year Fed interest rate projections will also be announced. This means the markets will move as we see the average cut estimates for 2024 and 2025 from the members. Members aiming for an average 75bp cut this year seem to be mistaken. Besides this, there are significant developments for altcoins like ASI Coin and FLOKI.
