This week is shaping up to be a major one for the crypto world, with several key events that could significantly impact Bitcoin, Ethereum, and other cryptocurrencies.
Trump’s Bitcoin Speech?
The Bitcoin 2024 conference in Nashville is attracting a lot of attention this year, especially because former President Donald Trump is scheduled to give a keynote speech. Trump is currently the frontrunner in the US presidential race, and many people are speculating that he might announce plans to create a US Bitcoin reserve if he’s elected.
Adding to the buzz, Elon Musk recently changed his X profile picture to a “laser-eyes” meme, a popular symbol among Bitcoin enthusiasts. This has led to even more speculation about his potential attendance and support for Bitcoin.
Ethereum ETFs Launch
Get ready for some new ways to invest in Ethereum! The Chicago Board Options Exchange (Cboe) confirmed that trading for several spot Ethereum ETFs will begin on Tuesday, July 23. This follows the US Securities and Exchange Commission’s (SEC) approval of the necessary regulations back in May.
These ETFs will allow investors to get exposure to Ethereum without having to buy the actual cryptocurrency directly. This could potentially lead to increased demand for Ethereum and drive its price up.
Ripple vs. SEC: Settlement or Ruling?
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) could finally be coming to a head. There’s been speculation that a closed-door meeting between the two parties, originally scheduled for last week, has been rescheduled for July 25.
This meeting could result in a settlement, which would be a big win for Ripple and the XRP community. Ripple CEO Brad Garlinghouse has expressed optimism that the lawsuit will be resolved soon, and some legal experts are predicting a ruling on penalties and remedies by the end of July.
Inflation Data and the Fed
The release of US inflation data on Friday, July 26, will be closely watched by investors in both traditional and crypto markets. Economists are expecting to see continued moderate inflation, which could influence the Federal Reserve’s monetary policy decisions.
If inflation remains low, it could lead to more favorable conditions for crypto markets. However, if inflation rises, it could put pressure on the Fed to raise interest rates, which could negatively impact crypto prices.
Overall, this week promises to be a crucial one for the crypto world. The events described above could have a major impact on the market, so stay tuned for updates!
