These Are 6 Events That Could Affect the Price of Bitcoin (BTC) and the Rest of Cryptocurrencies This Week

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Table of Contents


  • Analysts project a possible Fed rate cut in September and evaluate its impact on the crypto market, suggesting that this decision is already reflected in prices and could result in limited volatility for Bitcoin.
  • The decision on the interest rates of the US Federal Reserve is scheduled for Wednesday, June 12, and is anticipated to remain unchanged.
  • Reports on the Consumer Price Index (CPI) and the Producer Price Index (PPI) will be released, with expectations of stability in the CPI.

This week could be crucial for the crypto markets. Several key economic events are set to take place that could influence the direction of Bitcoin and other cryptocurrencies’ prices.All eyes are on the decision regarding the interest rates of the US Federal Reserve, scheduled for Wednesday, June 12. Following strong labor market data in May, the Federal Reserve is expected to keep interest rates unchanged for the seventh consecutive time, maintaining them in the range of 5.25% to 5.5%. Though there is uncertainty regarding mixed economic data, the Fed is expected to maintain its stance.

Additionally, on the same Wednesday, reports on the Consumer Price Index (CPI), a vital inflation indicator, will be published. The CPI is expected to remain around 3.4%, providing another reason for the Fed not to make changes to interest rates this week.

Furthermore, on the following day, reports on the Producer Price Index (PPI), another important indicator to assess inflation and guide monetary policy decisions, are expected.

Limited Volatility and Bitcoin with Strong Dominance

Analysts project that the first rate cut could occur at the Fed’s September meeting. Based on current expectations, there are expected to be only two rate cuts in total for this year, according to Bank of America economists.

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Regarding the impact on the crypto market, it is expected that the Federal Reserve’s decision is already priced in, which could result in limited volatility. However, altcoins may be affected as long as Bitcoin dominance remains high.

Other external economic factors to the Fed’s decision that will be known during the week include the monthly report of the OPEC and data on Michigan consumer sentiment, which will be released on Friday.

The crypto market suffered a setback on June 6. Bitcoin fell from $72,000 to $69,000, dragging down the rest of the cryptocurrencies. At the time of writing this article, BTC is trading at around $69,334 with just a 0.12% change in the last day.


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