Today, we’ll delve into the anticipated significant developments for cryptocurrencies. Despite critical events in the macro landscape, last week’s shallow volatility remained unaffected.
However, it’s noteworthy that Bitcoin’s price has been confined within a narrow range for an extended period. History has shown that substantial movements often follow these seemingly uneventful periods.
Cryptocurrency Developments
Bitcoin’s price, which has been consolidating in a tight range, might experience heightened volatility due to upcoming critical macro developments. The statements of the Fed Chairman have underscored the significance of data like employment, inflation, and wage growth in influencing market dynamics.
Upcoming Cryptocurrency Events:
July 31, Monday
- 04:30 China Manufacturing PMI (Expectation: 49.2, Previous: 49)
- 12:00 Eurozone Inflation (Expectation: 5.3%, Previous: 5.5%)
- 12:00 Eurozone GDP (Expectation: 0.5%, Previous: 1%)
- August 1, Tuesday
- 16:45 US Manufacturing PMI (Expectation: 49, Previous: 46.3)
- 17:00 US JOLTS (Expectation: 9.620M, Previous: 9.824M)
- DYDX Unlocking (13.63 Million $)
- Baby Doge Coin (BABYDOGE) Token Burn (1.9 quadrillion tokens)
- Hedera San Francisco Event (AI, blockchain, and evolving corporate environment)
August 2, Wednesday
- 15:15 US ADP Nonfarm Employment Change (Previous: 497K)
- August 3, Thursday
- 10:00 Turkey CPI (Previous: 38.21%)
- 12:00 Eurozone PPI (Expectation: -6.9%, Previous: -1.5%)
- 15:30 US Initial Jobless Claims (Expectation: 227K, Previous: 221K)
- 16:45 US Services PMI (Expectation: 52.4, Previous: 54.4)
- SUI Unlocking (22 Million $)
- Litecoin Halving (Between August 3-4)
August 4, Friday
- 15:30 US Average Hourly Earnings (Expectation: 0.3%, Previous: 0.4%)
- 15:30 US Nonfarm Payrolls (Expectation: 184K, Previous: 209K)
- 15:30 US Unemployment Rate (Expectation: 3.6%)
- August 5, Saturday
- GAL Token Unlocking (9.9 Million $)
Cryptocurrencies: Will They Rise?
One of the week’s most critical altcoin events is the Litecoin halving, anticipated between August 3-4, contingent on miner performance. This event could trigger substantial price fluctuations.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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