Bitcoin

<h3 id="our-experts-have-analyzed-the-situation-on-the-crypto-market-and-told-how-it-can-change-in-the-short-term-for-btc-and-the-market-as-a-whole">Our experts have analyzed the situation on the crypto market and told how it can change in the short term for BTC and the market as a whole</h3><p><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">BTC</a> ended the week with the best result since March 2023. The high of the week was recorded at $31,431.</p><p>Several factors increased BTC attractiveness to investors:</p><p>– BlackRock has applied to launch a spot crypto ETF. The American investment company was founded in 1988. And is one of the largest asset managers in the world with more than $9 trillion in assets at the end of 2021.– Following BlackRock, four other organizations filed with the SEC: Fidelity, Invesco, Wisdom Tree and Valkyrie.– The launch of the EDX Market digital asset platform. Citadel Securities, Fidelity Digital Assets and Charles Schwab Corp. invested in developing the platform.– The SEC and Binance.US reached an agreement to avoid an asset freeze.– The U.S. Supreme Court decided to stay the Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency exchange Coinbase.</p><p>The key event of the week was a two-day speech by US Federal Reserve Chairman J. Powell. Speaking to Congress on Thursday, he reiterated his view that further rate hikes are necessary to curb inflation. The strengthening dollar had no effect on Bitcoin dynamics. Investors were resigned to the prospect of further interest rate hikes.</p><p>The U.S. dollar began to recover amid risk aversion. This week its recovery may continue. As investors will become more cautious and avoid risky investments. They will keep an eye on inflation data in the U.S. and Europe. As well as speeches by central bankers at the ECB forum.</p><h3 id="important-events-of-the-week-and-prospects">Important events of the week and prospects</h3><p>One of the key reports to be released in the U.S. next week is the Personal Consumption Expenditures (PCE) report. And that will be released on Friday (June 30). The core PCE is expected to rise 0.4% in May. And the annual rate will remain at 4.7%. In addition, we will get personal spending and income data. Although the GDP data, which will be released on Thursday. And is an update, market participants can ignore it. Jobless claims will also provide new clues about the state of the labor market.</p><p>Buyers have been able to push the cryptocurrency’s price up to the $31,000 level of April 14, 2023. And that’s very good for them, as it has opened the road to the $34k level.</p><p>The technical picture on the hourly timeframe indicates a possible correction to $29,650.</p><p><a href="https://crypto-upvotes.com/about-us/" rel="noopener noreferrer nofollow">Our experts</a> note that the growth phase will last until the third decade of July. However, sentiment on the crypto market changes quickly. Therefore, fixing on long positions is possible, if the news become negative. In this case it may take until August to reach the target area.</p>

What will happen to BTC in the coming week

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