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This coming week could be a game-changer for the BTC-spot ETF market and BTC itself. With the Fed interest rate decision/press conference, the US ISM Services PMI, and the US Jobs Report on the horizon, buyer demand for BTC-spot ETFs may be impacted. Keep a close eye on how these events unfold as they could influence the market in a significant way.
Despite the potential market volatility, the Bitcoin Halving continues to provide price support at current levels. This event has a history of impacting the market, so it’s essential to stay informed and be prepared for any potential shifts.
In other news, ETH showed strength over the weekend, rallying 3.96% to end the session at $3,255. The news of Consenys filing a lawsuit against the SEC has fueled buyer demand for ETH. The lawsuit aims to challenge the SEC’s jurisdiction and pave the way for an ETH-spot ETF market. Stay tuned for updates on this developing situation as it could have a significant impact on the market.
When it comes to technical analysis, BTC is currently hovering below the 50-day EMA while staying above the 200-day EMA. This indicates a bearish near-term but bullish longer-term price signal. Keep an eye out for a potential break above the 50-day EMA, which could lead the bulls towards the $69,000 resistance level.
As we navigate the market this week, pay close attention to investor sentiment towards the Fed rate path and its likely impact on buyer demand for US BTC-spot ETFs. The market may see some volatility, so it’s crucial to stay informed and make well-informed decisions.
At Extreme Investor Network, we provide expert analysis and unique insights to help you navigate the stock market with confidence. Stay tuned for more updates and valuable information to help you make the most of your investments.
