Wednesday

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Avalanche

<p>The post <a href="https://coinpedia.org/news/crypto-market-news-key-events-to-watch-out-for-this-week-as-bitcoin-holds-steady/" rel="noopener noreferrer nofollow">Crypto Market News : Key Events to Watch Out For This Week As Bitcoin Holds Steady</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p><p>As Bitcoin maintains a stable position above the $30,000, a noticeable surge since its previous $25k threshold, a host of significant events in the week ahead could influence its performance. Michael van de Poppe, the renowned analyst, <a href="https://twitter.com/CryptoMichNL/status/1673260673885696006" rel="noopener noreferrer nofollow">points to</a> several important financial announcements and testimonials that crypto investors should mark in their calendars.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>The important events of the week:<br><br>– U.S. Consumer Confidence: Tuesday at 16.00 PM.<br>– Multiple testimonials: Powell, Lagarde, Ueda, and Bailey Wednesday at 15.30 PM<br>– U.S. Final GDP q/q Thursday at 14.30 PM<br>– U.S. Unemployment Claims Thursday at 14.30 PM<br>– U.S. PCE Index m/m at…</p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1673260673885696006?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2023</a></blockquote></div></figure><h2 class="wp-block-heading" id="strong-the-pulse-of-consumer-confidence-strong"><strong>The Pulse of Consumer Confidence</strong></h2><p>Kicking off the week’s activities, we will be examining the U.S. Consumer Confidence Index, which is scheduled for release on Tuesday. This measure of consumer optimism about the economy’s direction could potentially have a ripple effect on Bitcoin’s performance. A high level of consumer confidence often encourages increased spending and investment, which could extend to the cryptocurrency market.</p><h2 class="wp-block-heading" id="strong-an-avalanche-of-testimonials-strong"><strong>An Avalanche of Testimonials</strong></h2><p>A series of testimonials on Wednesday forms a crucial part of the upcoming events. This will feature insights from eminent individuals, including Jerome Powell, Christine Lagarde, Shogo Ueda, and Andrew Bailey. Their perspectives and revelations could bring about significant shifts in market sentiment and, consequently, impact the performance of Bitcoin.</p><h2 class="wp-block-heading" id="strong-the-numbers-game-gdp-and-unemployment-strong"><strong>The Numbers Game: GDP and Unemployment</strong></h2><p>Thursday will see the release of two significant economic indicators: the U.S. final quarter-on-quarter GDP and Unemployment Claims, both at the same time. These data releases offer insights into the nation’s economic health, which could directly or indirectly sway the Bitcoin market.</p><h2 class="wp-block-heading" id="h-the-significance-of-the-pce-index"><strong>The Significance of the PCE Index</strong></h2><p>The spotlight event to watch is the release of the U.S. Personal Consumption Expenditures (PCE) Index on Friday at 2:30 PM. The PCE Index, which is closely watched by the Federal Open Market Committee (FOMC) when setting policies, might be the week’s game-changer.</p><p>If the PCE Index comes in lower than forecasted, a bullish response from Bitcoin is plausible. Conversely, a higher-than-expected result could trigger a correction in risk-on assets, says Van de Poppe. The strength of the U.S. Dollar Index (DXY) may also add an extra layer of complexity to Bitcoin’s reaction.</p><p>At the time of writing this article, Bitcoin was worth $30,322.</p>

Crypto Market News : Key Events to Watch Out For This Week As Bitcoin Holds Steady

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