Three Things That Could Rattle Crypto Markets This Week 

All eyes are on Wednesday, June 12, which is the date of the U.S. central bank’s policy decision on interest rates.

However, the Federal Reserve is likely to keep interest rates unchanged this week, following strong jobs data for May.

Policymakers are almost certain to keep rates at the 5.25% to 5.5% range for a seventh consecutive meeting.

They could also reduce the number of cuts slated for this year as policymakers digest a mixed bag of economic data.

Economic Calendar June 10-14

June 12 will be a very busy day with core CPI (consumer price index) reports to be released. This data is a key measure of inflation in the economy, it has a significant impact on the Fed’s monetary policy decisions, including interest rate adjustments.

A higher CPI reading indicates increasing inflation, which typically puts pressure on the Fed to raise interest rates or keep them the same. The year-on-year CPI figure is likely to remain the same at 3.4%, suggesting that the central bank will not change rates this week.

There have been strong correlations between Bitcoin price and CPI data this year, as reported by CryptoPotato in May. Higher-than-expected CPI has been bearish for the digital asset, while lower-than-expected CPI has been bullish.

Thursday, June 13, will see core PPI (producer price index) reports released. This measures the average change over time in selling prices received by domestic producers of goods and services and is a valuable complimentary inflation indicator used by FOMC policymakers.

“The Fed is waiting for a string of data that strengthens its confidence that inflation is on a sustained path toward its 2% target,” said Ryan Sweet, chief US economist at Oxford Economics.

Analysts expect the first rate cut to happen at the central bank’s September policy meeting, its final gathering before the November 5 presidential election.

“It [the Fed] should project two rate cuts this year and a cutting cycle that begins in September,” Bank of America economists wrote in an investor note published on Friday.

Crypto Market Impact

The Fed rate decision is likely to be already factored into crypto markets since it is almost a given that rates will remain unchanged.

There may be a little volatility mid-week, but the sideways momentum is likely to continue. Altcoins may take a hit, however, as Bitcoin dominance remains high, keeping the premise of altseason at bay for now.

Crypto trader ‘Emperor’ shared his thoughts on the state of the market with his 390,000 followers on X on June 9.

The post Three Things That Could Rattle Crypto Markets This Week  appeared first on CryptoPotato.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
VeChain and UCO Network Forge Alliance: Unveiling Sustainable Innovations
Innovative blockchain alliance promotes environmental sustainability. VeChain and UCO Network revolu...
READ MORE
post-thumbnail
Central Banks of Bhutan, Venezuela, and Iran Acquiring Bitcoin, Claims Industry Voices
Industry voices claim that Bhutan, Venezuela, and Iran’s central banks are acquiring Bitcoin. Larg...
READ MORE
post-thumbnail
New Crypto Rollblock (RBLK) Showing Potential For 800% Breakout Rally As BCH and AVAX Investors Load Up
The post New Crypto Rollblock (RBLK) Showing Potential For 800% Breakout Rally As BCH and AVAX Inves...
READ MORE
post-thumbnail
From Rags to Riches: List of Altcoins to Hold for Millionaire Status by 2025
The post From Rags to Riches: List of Altcoins to Hold for Millionaire Status by 2025 appeared first...
READ MORE
default post thumbnail
Bitcoin Is Exponential Gold And An Aspiring Player On The Store Of Value Team: Jurrien Timmer
The post Bitcoin Is Exponential Gold And An Aspiring Player On The Store Of Value Team: Jurrien Timm...
READ MORE
default post thumbnail
Ethereum Exchange Balances Hit 8-Year Low Ahead of Spot ETF Launch
The post Ethereum Exchange Balances Hit 8-Year Low Ahead of Spot ETF Launch appeared first on Coinpe...
READ MORE
post-thumbnail
Bitcoin (BTC) Price Might Crash To $60K This Week: Here’s Why
The post Bitcoin (BTC) Price Might Crash To $60K This Week: Here’s Why appeared first on Coinpedia...
READ MORE
default post thumbnail
BAYC and Pudgy Penguins See Major Price Drops While Milady Shines
The post BAYC and Pudgy Penguins See Major Price Drops While Milady Shines appeared first on Coinped...
READ MORE
post-thumbnail
Bitcoin Price Prediction: How Low Might BTC Price Drop This Crypto Market Crash 
The post Bitcoin Price Prediction: How Low Might BTC Price Drop This Crypto Market Crash  appeared ...
READ MORE
post-thumbnail
With $60K & $70K as Major Support & Resistance, Bitcoin Price Stands Around $65K: Here is What’s Next!
The post With $60K & $70K as Major Support & Resistance, Bitcoin Price Stands Around $65K: H...
READ MORE
Read more posts