Crypto News: Key Events To Impact Bitcoin, Ethereum Price This Week

Varinder Singh
June 19, 2023
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights 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.
Will Bitcoin Price Hit $100K Ahead of Powell's Testimony on Tuesday?

Crypto News: The crypto market witnessed slight positive sentiment following the filing of BlackRock iShares spot Bitcoin ETF with the US SEC and crypto exchanges Binance and Coinbase reduced some FUD after the US SEC lawsuits. The two largest crypto assets Bitcoin (BTC) and Ethereum (ETH) price recovered from fall after the US Federal Reserve kept the interest rate unchanged, but signaled hikes later this year.

Advertisement
Advertisement

Key Events To Impact Bitcoin, Ethereum Price

Bitcoin and Ethereum prices fell slightly today as investors turn cautious ahead of key crypto news and events this week. US treasury yields continue to climb amid new T-bills issue by the US Treasury Dept. Meanwhile, the US dollar remains weak after a “hawkish pause” by the US Fed, with the US dollar index (DXY) sliding below 102.50. Bitcoin price typically moves opposite to the US treasury yields and the US dollar.

Investors look for fresh guidance on monetary policy in the coming months from US Fed Chair Jerome Powell’s testimony in the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. Fed officials Lisa Cook and Philip N. Jefferson will also testify before the US Congress. Also, six Fed officials including James Bullard, John Williams, and Raphael Bostic speeches are scheduled for this week.

Moreover, the Bank of England will announce its interest rate decision on Thursday, expected to hike rates by another 25 bps to curb inflation. Investors will also look forward to fresh guidance from European Central Bank officials after the ECB hiked rate by another 25 bps last week and signaled further tightening.

Also Read: Terra’s Do Kwon Comments On Fake Docs, South Korea Extradition, Political Ties In Montenegro

Inflation data release by several countries and China’s central bank decision on bringing back activity through stimulus and other measures can also influence investors’ outlook this week.

BTC price fell 0.50% to $26404, with 24-hour low and high of $26312 and $26675, respectively. Meanwhile, ETH price currently trades at $1724, down 0.5% in the last 24 hours. Crypto prices mostly moving sideways amid uncertainty in the market.

Also Read: US District Court Approves Binance And US SEC Proposed Deal

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

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.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.