Bitcoin and Ethereum are sending mixed signals ahead of a defined event


Join our Telegram group to stay updated with the latest live crypto news.

After last week was marked by some surprises in the US employment figures, with a bearish impact on cryptocurrencies, Bitcoin and Ethereum will be subject to the impact of inflation figures this week.

The June IPT of the United States expected on Wednesday is the last major statistic that is likely to influence the decision of the Fed for its next meeting on July 26, and a bad surprise could easily occur. sliding BTC and ETHwhich show fragile trends graphically.

US inflation will dominate the fate of cryptocurrencies this week

Remember that last week’s US employment data showed a strong labor market in terms of job creation and wage growth, which was raised expectations Increase in feed rate.

It should also be noted that the CME’s FedWatch tool this Monday morning shows that rate traders are taking into account their 93% probability. that the Fed is raising rates by 0.25% this month, up from 86.8% the previous week.

If US inflation data due on Wednesday beats expectations, rate expectations should strengthen further, particularly on the possibility that additional rate hike before the end of the year (after July), a scenario that traders currently consider to be 35% likely.

In this case, it should be expected strong correction cryptocurrencies like Bitcoin and Ethereum.

Aside from the US inflation data, crypto traders should also stay on the lookout for any new statements or information regarding recent inflation filings.Bitcoin ETFs from some major players in traditional finance.

​​​​​​Any sign that the SEC’s decision to postpone or reject would be bad for cryptocurrencies, since it was precisely the optimism of the Bitcoin ETF spot that fueled the powerful rally cryptocurrencies last month.

twitter crypt

From a technical analysis point of view, both Bitcoin and Ethereum are in consolidation steps which is in force from the last week of June.

Will Bitcoin make it to $30,000?

Regarding the BTC / USD, it will be remembered that the cryptocurrency is tested key threshold of $30,000 last week, which is not positive.

Bitcoin daily chart

On the other hand, cryptocurrency also marked a new annual high to over $31,500 last Thursday. To clear the trend, bitcoin will therefore have to break below $29,500 or make a new high above $31,500.

In the first case, the next support that will be taken into account is the 100 day moving average currently at $28,270. If instead bitcoin takes the upward path above $31,500, the next bullish target is $32,000.

The $2000 target for Ethereum drops

Regarding the Ethereum course, it should be noted that the new last week’s highlights the cryptocurrency failed to take it all the way to the $2000 zone, which remains a key barrier that crypto traders seem reluctant to cross.

Ethereum daily chart

So last Monday’s peak at $1975, the $2000 threshold and the summit 6 May The first major resistance zone yet to be considered for ETH/USD is $2020, ahead of the $2100 threshold and then this year’s peak at $2140.

On the downside, $1800, $1700 and the June 15 low at $1622 first brackets potential in case of Ethereum slippage.

On the same subject:

BlackRock Bitcoin ETF

Is the big crypto trend reversal coming now? The CEO of BlackRock calls Bitcoin “digital gold” and believes in the revolution in finance

These 3 coins are currently trending on Twitter and are about to explode: Safemoon 3.0, Bitcoin Cash and Litecoin -

Bitcoin Still Trapped On The Trend Side As Sustainable Coin Presale Goes Through The Roof –