NewsletterCrypto’s Biggest Week Ever?: Ethereum Shanghai Upgrade To Follow This News?
Crypto News: As Bitcoin price rose to a new high of $30,000 in 10 months, the crypto market is anticipating possibly the biggest event of the week, the Ethereum Shanghai Upgrade. The upgrade is scheduled at epoch 194048 on April 12, 2023 at 10:27 PM UTC. In this context, the U.S. Bureau of Labor Statistics is set to release the Consumer Price Index (CPI) data for the month of March 2023. This data will be key to the US Federal Reserve’s decision making for further interest rate hike.
Also Read: Major Wall Street Giants Share U.S. CPI Estimates, Will Bitcoin’s Price Rally Further?
Ahead of the inflation data release, US Treasury Secretary Janet Yellen said inflation in the United States still remained too high. This could mean increasing possibility of the Fed sticking with its rate hike stance to in its efforts to contain inflation to its 2% target. The central bank has been maintaining that the ongoing rate hikes have been appropriate, despite hurdles in the US regional banking system.
Ripple Case Summary Judgement This Week?
Although it is highly unpredictable as to when Judge Torres would pronounce the Summary Judgement in the Ripple Vs SEC case, attorney John Deaton, who represents the 76,000 XRP token holders, is wondering if there is such a possibility. He suggested that this week could see unprecedented boost for the crypto market if the judgement is delivered.
“Bitcoin over 30K today. ETH’s Shanghai update tomorrow. A great and fantastic ruling from Judge Torres in the Ripple case next could prove to be Crypto’s biggest week ever.”
Amid heightened regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC) in recent times, the Ripple case judgement could prove to be highly volatile event for the market. Also, the judgement would put to rest the debate over altcoins are securities or not.
Also Read: Bitcoin, XRP Price Gains As Stock Market Looks Mixed Ahead Of Inflation Data
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Bitcoin Gains State Adoption as Texas Becomes First U.S. State to Purchase BTC
- Rate Cut Advocate Kevin Hassett Emerges as Trump’s Top Pick For Fed Chair
- Breaking: Crypto Platform Polymarket To Operate As A U.S. Exchange as CFTC Issues Key Order
- SEC Panel to Discuss Regulatory Changes for Tokenized Equities on Dec. 4
- December Fed Rate Cut Odds Surge To 85% Following PPI Release
- Monad Price Prediction Amid Mainnet Debut — Is a Bigger Breakout Ahead?
- Chainlink Price Could Soar to $15 as ETF Listing Nears
- Will Cardano Price Rebound as Hoskinson Hints at a TVL Surge After Midnight Launch?
- Ethereum Price Holds $2,900 Amid Massive ETF Inflows and BlackRock Purchase
- Sui Price Surges 12%: Could This Mark the Start of a Bullish Trend?
- Is Bitcoin Price Set for Major Recovery as December Rate Cut Chances Hit 80.9%?
