MTGOX transfers triggered a drop in cryptocurrencies.
ETH ETF’s first volume data is crucial.
Trump will speak about cryptocurrencies and Bitcoin.
We are in the last week before the Fed meeting, and this week also hosts important developments for cryptocurrency investors. MTGOX triggered a drop in cryptocurrencies with new transfers. However, this situation showed that we are nearing the end of FUD, which is positive in the medium and long term. So, what important developments await investors?
Important Developments in Cryptocurrencies
Every week, we discuss the important developments awaiting investors in crypto. Investors who dominate the calendar are caught prepared for price fluctuations, and the volatility caused by the news flow becomes less harmful for them. Now, let’s take a look at what awaits us for the rest of the week.
Tuesday, July 23
- 14:00 TCMB Interest Rate Decision (Expectation: Stable)
- 16:30 Spot ETH ETFs Will Start Trading
Wednesday, July 24
- 11:05 Fed/Logan Will Speak.
- 16:45 US Manufacturing and Services PMI
- 23:05 Fed/Bowman
- Litecoin Summit
Thursday, July 25
- 15:30 US Gross Domestic Product (Expectation: 2.6% Previous: 3.1%)
- 15:30 US Unemployment Claims (Expectation: 239K Previous: 243K)
- Bitcoin 2024 Nashville Conference Will Start
Friday, July 26
- 15:30 US Core Personal Consumption Expenditures (Previous: 2.6%)
Saturday, July 27
- 22:00 Trump Will Speak at Bitcoin Conference
Things to Watch
First of all, the initial volume data of the ETH ETF is extremely important, and the size of net outflows or inflows will be clear after the daily close. If the ETHE ETF (Grayscale’s) sees strong net outflows, this could trigger negativity in the market for a while. The personal consumption expenditures data coming on Friday will be closely watched, especially due to its potential to affect the macroeconomic outlook.
On Saturday, Trump will speak about cryptocurrencies and Bitcoin. The election is approaching, and he has to say things that will attract cryptocurrency investors. Statements to be made by the potential new US President could have significant effects on prices. Perhaps Trump will reveal a few exciting promises to attract the massive investor base that is into crypto.
Bitcoin is currently at the level of $66,530 due to MTGOX. However, MTGOX only has 90,344 BTC left. A significant portion of the 142,000 BTC has been depleted, and massive returns are being made as July comes to an end. Since these have not turned into sales that shake the markets, things are going well for now.
