As every Sunday, today we look at events that could affect cryptocurrency prices in the next 7 days. We have seen many times how these developments trigger volatility. Preparing for significant developments and volatility potential helps investors gain profits and at least limit their losses. So, what awaits us in the coming days?
Important Developments in Cryptocurrencies
Data against risk markets in the US caused losses to multiply in June. BTC dropped significantly, and losses in altcoins reached much larger proportions. Now let’s look at what awaits us starting from Monday, June 24.
Monday, June 24
- 10:00 Fed/Waller Speaks
- 21:00 Fed/Daly
Tuesday, June 25
- 14:00 and 21:15 Fed/Bowman
- ALT Unlocking ($20.4 Million)
Wednesday, June 26
- 23:30 Fed Stress Test Results
- AdEx Announcement
- ECB Announcement
- Algorand Decipher Event
- Blast Airdrop
Thursday, June 27
- 14:00 CBRT Interest Rate Decision
- 15:30 US Gross Domestic Product (GDP) (Expectation: 1.4% Previous: 1.3%)
- 15:30 US Unemployment Claims (Expectation: 240K Previous: 238K)
- YGG ($10.8 Million)
Friday, June 28
- 15:30 US Core Personal Consumption Expenditures (Expectation: 2.6% Previous: 2.8%)
- 19:00 Fed/Bowman
- VeChain The HiVe Summit
- AGIX ($5.3 Million)
Sunday, June 30
- OP Coin ($56.7 Million)
Cryptocurrency Predictions
If the GDP data surprises, it could increase volatility as it did in the first quarter. The Fed needs to reduce inflation without causing a devastating contraction in the US economy. Fed members will make statements throughout the week, and stress test results for major banks will be released. It has long been said that banks have largely avoided chain bankruptcies, but if this test contains abnormal details, it could be a strong trigger for volatility.
Personal consumption expenditures data is the most important development of the week. It is important for this to come in at 2.6% or below. If it comes in surprisingly lower, investors’ risk appetite may increase. Altcoin-specific unlockings and event announcements also have the potential to trigger price increases/decreases as expected.
