фото показано с : invezz.com

The cryptocurrency market struggled since the Securities and Exchange Commission sued Coinbase and Binance. However, the industry showed optimism over the weekend (following crucial developments) to record impressive price movements.

Besides Binance and the SEC agreeing to allow the form to continue with its United States, BlackRock’s proposed Bitcoin exchange-traded fund cleared the dark fog that engulfed the crypto sector. Bitcoin flashed recoveries from its latest dip after the Fed kept interest rates unaltered.

2/ But the week ahead holds more crucial events that could shape market trends. One of the highlights will be Fed Chairman Jerome Powell's testimonies before the US Senate and House of Representatives. #FedPolicy

Cryptocurrency prices declined slightly on Monday as market players brace for upcoming economic events this week. As invezz.com news indicate, the recent hawkish pause by the Federal Reserve continues to weakened the US dollar.

The dollar index (DXY) plunges mean upticks for Bitcoin as the bellwether crypto moves contrary to the US dollar and treasury yields.

Federal Chair Jerome Powell will testify before the House Financial Services Committee on July 21 & the Senate Banking Committee the following day (Thursday). Market players will look for new financial policy guidance for the upcoming months.

Fed officials Philip Jefferson and Lisa Cook will appear before the United States Congress. Moreover, James Bullard, Raphael Bostic, and John Williams will comment on behalf of the Federal Reserve this week.

The Bank of England will reveal its new interest rate on Thursday. Considering the high inflation, market players expect another 25 bps hike. Furthermore, traders will watch for new financial guidance from the European Central Bank following last week’s rate increase.

Several nations will announce their inflation figures in the week ahead. Also, China’s decision on re-launching activity via stimulus and other practices will likely influence cryptocurrency markets in the coming seven days.

The week ahead appears busy for cryptocurrency investors. Enthusiasts should watch all economic events that can influence prices for informed decisions.

The post Important economic events that will impact crypto markets this week appeared first on Invezz.

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