Crypto Market This Week: Key Events & Data Releases to Watch

The crypto market is poised for a dynamic week, with several crucial events and data releases set to influence investor sentiment and market movements. Spot Ethereum ETFs have been delayed once again by the SEC pushing the potential launch date to mid or late July. While this delay creates uncertainty, a successful launch could significantly boost Ethereum prices. On June 30, the EU's MiCA regulation will take effect, introducing a comprehensive regulatory framework for crypto trading. This could reshape the industry and enhance market stability, but a lack of preparedness could lead to disruptions and volatility. FOMC meeting minutes, U.S. job data, and trade deficit figures are all due out this week, offering crucial insights into economic trends and potential implications for the Fed's monetary policy. Higher-than-expected job openings and wage growth could increase inflationary pressures and lead to more hawkish Fed policies, negatively impacting the crypto market. Conversely, lower job numbers and narrowing trade deficit could boost investor confidence and support crypto prices. Federal Reserve Chair Jerome Powell and other key Fed officials will be attending several important events, providing valuable insights into their outlook on inflation, interest rates, and global economic trends. Investors should closely monitor these events and their potential impact on the volatile crypto market.