The financial world is getting ready for another week of important developments. Likewise, investors in the cryptocurrency market are eagerly awaiting a series of events that will significantly affect the value of Bitcoin and altcoins. From earnings reports from tech giants to key economic indicators, there are important developments that Bitcoin and altcoin followers should follow closely in the new week. Here are some events that have the potential to be critical for cryptocurrencies…
Cryptocurrencies have the potential to be affected by these developments.
On Tuesday, July 25, major tech companies, including Microsoft, Google and Visa, will announce earnings reports after market hours. These reports are expected to provide valuable insights into the performance of these industry giants and influence investor sentiment in the broader market. On Wednesday, July 26, important events will take place for both traditional financial markets and the cryptocurrency world. It is expected that the Fed will announce its interest rate decision at 21:00. cryptocoin.comAs we have also reported, analysts are predicting a 25 basis point increase.
Following this, at 9:30 pm, Fed Chairman Jerome Powell will address the US Federal Open Market Committee (FOMC) at a press conference. At this point, it offers more information about the central bank’s view of the economy. Also, on the same day, the House of Representatives Financial Services Committee is scheduled to vote on cryptocurrency legislation. This vote, following last week’s postponement, could have far-reaching consequences for the regulation and adoption of cryptocurrencies in the United States.
A lot of economic data will be revealed in Europe and the USA
A number of critical economic indicators from both the Eurozone and the US will be critical on Thursday. At 15:15, the European Central Bank (ECB) will release its Monetary Policy Statement. Then, the Euro Zone Interest Rate Decision, which is expected to increase by 25 basis points, is announced. Simultaneously, at 15:30, the US Gross Domestic Product (GDP) Quarterly report is published. Analysts for this data project a growth rate of 1.8%, slightly lower than the previous 2% growth rate. Investors will also closely monitor US Initial Jobless Claims data. It should be noted that the figure of 233 thousand, which is higher than the previous 228 thousand, is expected for this data.
Later in the day, ECB President Christine Lagarde will hold a press conference. Thus, it will provide information on the bank’s policy decisions and its outlook on the Eurozone economy. On Friday, July 28, data that measures inflation from the point of view of consumers will also draw attention. Because eyes will be on the US Core Personal Consumption Expenditures (PCE) Price Index. Analysts are expecting a 0.2% monthly increase, a marginal decrease compared to the previous 0.3% increase. This indicator plays a key role in determining future monetary policy decisions. For this reason, it is closely followed by the FED. It is easy to see that the week in which such important events are listed is not critical. It is likely to witness increased volatility as traders and investors react to the results.
