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CPI Data, Jerome Powell, Ethereum ETFs: What Bitcoin Traders Are Watching This Week


Positive Outlook for Bitcoin Traders

Bitcoin (CRYPTO: BTC) traders are eagerly awaiting potential market-moving events this week. There are several factors that could impact the price of Bitcoin, including upcoming macroeconomic data and the launch of Ethereum (CRYPTO: ETH) on July 15.

Fed Chair Jerome Powell Testifying on Policy

One of the main catalysts for Bitcoin this week is Federal Reserve chair Jerome Powell's testimony on monetary policy. Traders will be closely watching for any hints of future interest rate changes or economic outlook, as this could impact the overall market sentiment and potentially drive the price of Bitcoin.

New CPI & PPI Data Impacting Yields and the DXY

In addition to Powell's testimony, new consumer price index (CPI) and producer price index (PPI) data will also be released this week. These reports could impact bond yields and the strength of the US dollar (DXY), which could have a ripple effect on the crypto market and potentially boost Bitcoin's price.

Possible Launch of Ethereum (CRYPTO: ETH) on July 15

Another major event that could impact the crypto market this week is the potential launch of Ethereum (CRYPTO: ETH) on July 15. This highly anticipated event could bring increased attention and investment into the cryptocurrency space, potentially benefiting Bitcoin and other major cryptos.
In summary, Bitcoin traders are hopeful for a positive week ahead, with potential market-moving events on the horizon. Keep an eye on Fed chair Powell's testimony, new macroeconomic data, and the launch of Ethereum for potential opportunities in the crypto market. #BTC #ETH #Bitcoin #Ethereum #CryptoNews #MarketOutlook


Sentiment Result : Positive

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