"Look, don't ignore it, all you investors, you'll miss an important update."
Cryptocurrency market investors are now gearing up to watch for important updates scheduled to happen this week that could potentially have a significant impact on the direction of the digital asset. Here are the five most important updates investors should know:
1. German Government BTC Sale
The German government's move to sell its entire investment in BTC has sparked widespread discussion in the crypto market community that the digital asset should be maintained as a strategic reserve currency.
2. United States (US) Consumer Price Index (CPI) Report For June 2024
In addition to the latest US CPI data for June 2024 showing a 0.1% decline, core inflation excluding food and energy prices which experienced an annual increase of 3.3% has marked the lowest level since April 2011.
Moderate inflation figures may have an impact on the Federal Reserve's (Fed) future decision on interest rates, where it may increase the chance of an interest rate cut starting in September this year.
3. Spot BTC ETF Records Highest Inflow In Weeks
Spot BTC ETF inflows in the US which saw a significant increase of $310 million on July 12, 2024 have reflected the high level of investor interest and confidence in the increasingly popular digital asset.
4. Spot Ethereum (ETH) ETF Expected to Happen Soon in the Crypto Market
Following heightened expectations for the upcoming ETH ETF spot approval, issuers hope to receive final regulatory approval soon with listings likely to begin as early as next week.
The positive development will not only increase the price of ETH but also mark a great achievement for the second largest digital asset in terms of market capitalization.
5. BTC Fear & Greed Index Is At Extreme Fear Levels
The cautious sentiment among investors has reflected the broader uncertainty and volatility in the crypto market, with many preferring to take a cautious approach due to the current state of the crypto market.
