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As every Sunday, today we discuss the developments in cryptocurrencies for the next 7 days. On the last day of June, Bitcoin did not meet expectations, and we saw larger losses in altcoins. So, what awaits investors between July 1-7?
Important Developments in Cryptocurrencies
Macroeconomic developments, key unlocks, announcements specific to altcoins, and other major events have significant impacts on prices. Developments that trigger volatility affect investors’ risk appetite and market outlook, and being caught unprepared for these events can be discouraging.
Therefore, every Sunday, we discuss the key developments for the next 7 days and share the dates and times of potential price fluctuations. Here’s what awaits us.
July 1, Monday
- 22:00 European Central Bank President Speech
- Wanchain Announcement
- 13F Reports to be Submitted to SEC (Shows Company’s ETF Holdings)
- SUI Unlock (50 Million $)
- IO Coin (23.6 Million $)
- DYDX (11 Million $)
July 2, Tuesday
- 12:00 Eurozone Inflation (Expectation: 2.8% Previous: 2.9%)
- 16:30 Powell Speech
- 17:00 US JOLTS (Expectation: 7.860M Previous: 8.059M)
July 3, Wednesday
- US Half-Day Holiday
- 10:00 Turkey CPI (Previous: 75.45%)
- 14:00 Fed/Williams
- 15:15 ADP Non-Farm Employment Change (Expectation: 156K Previous: 152K)
- 15:30 US Initial Jobless Claims (Expectation: 235K Previous: 233K)
- 21:00 FOMC Minutes
July 4, Thursday
- US Holiday
July 5, Friday
- 15:30 US Average Hourly Earnings (Expectation: 0.3% Previous: 0.4%)
- 15:30 Non-Farm Employment (Expectation: 189K Previous: 272K)
- 15:30 Unemployment Rate (Expectation and Previous: 4%)
- 18:00 Fed Monetary Policy Report
Cryptocurrency Commentary
On Friday, we might experience another critical moment on the macroeconomic front. Wage increases and employment data directly affect Bitcoin prices. Moreover, we will see the Fed minutes this week. Optimistic details related to the recent positive inflation data might lead to an increase in BTC prices.
Starting Monday, 13F forms will reach the SEC. This is important for seeing how much ETF investment companies have. We saw significant increases in previous reports. The risk here is the possibility of seeing companies with billion-dollar assets selling, as the cumulative net inflow has significantly decreased.
