Record-Breaking Bitcoin Options Expiry and Fed Data: Whats Next for Crypto?

By Lola Coin Jun 26, 202371Views

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The Bitcoin and crypto markets have experienced a bullish week, with BTC price rising by 14.5% and reaching a new yearly high of $31,432. The total market capitalization of the crypto market has increased by 10.7%. The market was boosted by news of the BlackRock Bitcoin ETF, despite a price consolidation in US equity markets. However, it remains uncertain if this rally can continue or if the bulls will lose momentum.
Five events in the coming week will be closely watched, as they could set the trend for Bitcoin and crypto prices. Fed chairman Jerome Powell’s appearance and his stance on interest rates and monetary policy will be a focus. The results of the stress test on US banks, as well as the release of preliminary US GDP figures and core PCE data, will also impact the market. Additionally, $5 billion in Bitcoin options are set to expire on June 30, which could lead to increased volatility. Currently, the Bitcoin price is at $30,250.

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