The post FOMC Minutes, Airdrop, and More appeared on BitcoinEthereumNews.com.

This week, some major news has captured the attention of crypto investors and enthusiasts alike. The release of the Federal Open Market Committee (FOMC) meeting minutes, Etherfi’s airdrop Season 3 launch, and several other significant developments are expected to influence the decentralized finance (DeFi) sector and the broader crypto industry. FOMC Meeting Minutes and Other Macro Data Releases This week, the crypto market braces for several macroeconomic data releases, notably the FOMC meeting minutes and the non-farm payroll figures for June. Analysts expect 180,000 new jobs in June, keeping the unemployment rate at 4%, the highest since February 2022. May saw a gain of 272,000 jobs, initially boosting confidence about the economy despite signs of a slowdown. Investor concerns about US economic momentum may grow with below-expectation numbers. June’s data revealed continuing unemployment claims at 1.84 million, a peak since November 2021, highlighting difficulties for job seekers. The focus will also be on the average hourly earnings growth, expected to decrease to a post-pandemic low of 3.9% year-on-year in June. Analysts believe these insights will significantly impact Bitcoin (BTC) and the broader crypto market. According to crypto analyst CrypNuevo, Bitcoin has shown preliminary signs of potential market movements. They observed two crucial liquidity areas of interest. The first is between $62,500 and $63,500, marking the primary short-term liquidity zone. The second area is around $67,100, regarded as a significant mid-term zone. CrypNuevo also noted a notable issue in the opposite direction involving a long wick. They believe it will likely get filled to balance the open interest gaps. BTC Price Performance. Source: X/CrypNuevo “So I finally came up with this projection: Not necessarily for the week ahead, the time frame is more like 2-3 weeks. Impulsive moves up to liquidate high-leverage short positions and then drop back down to fill…

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Filed under: News - @ July 1, 2024 4:16 am