Bank

Bitcoin

Impact

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The current week includes important upcoming events that could impact Bitcoin and crypto.</li> 
 <li>The week began with Bitcoin surpassing the $70k level.</li> 
</ul> 
<p>Greeks.live revealed the most important economic events that could potentially impact Bitcoin and the crypto markets.</p> 
<p>In a<a href="https://x.com/GreeksLive/status/1797869855418523714" rel="nofollow" target="_blank"> post</a> on X, they shared a sneak peek at the upcoming financial events of the week with the most important one being Friday’s unemployment rate and non-farm payrolls data.</p> 
<p>Greeks.live noted that the long-simmering macro market could affect the crypto market and the moves are worth watching.</p> 
<p>The approval of the ETH ETF should come in as early as the end of this month, according to them, and investors need to pay attention to relevant news.</p> 
<p>Currently, the IV is falling rapidly and the expected volatility is small, but the news regarding a trading start for ETH ETs will most likely push up the price of ETH once it’s revealed.</p> 
<h2 id="current-week-s-7-heavyweight-events">Current week’s 7 heavyweight events</h2> 
<h3 id="june-5">June 5</h3> 
<ul> 
 <li>On Wednesday, we’ll see the US ADP Employment for May.</li> 
 <li>The Bank Of Canada will reveal the interest rate decision.</li> 
 <li>The FTX Creditors Committee is in the spotlight as the reorganization plan and disclosure statement are reevaluated; objections to the disclosure statement are to be filed by June 5.</li> 
</ul> 
<h3 id="june-6">June 6</h3> 
<ul> 
 <li>The Eurozone ECB main refinancing date is due this Thursday.</li> 
 <li>The US initial jobless claims for the week are about to come in as well.</li> 
</ul> 
<h3 id="june-7">June 7</h3> 
<ul> 
 <li>Friday will see the release of the US unemployment rate for May.</li> 
 <li>The US non-farm payrolls, quarterly adjusted for May will be released as well.</li> 
</ul> 
<h2 id="crypto-market-outlook">Crypto market outlook</h2> 
<p>Greeks.live also addressed the volatility brought about by the Ethereum ETFs that has completely subsided and the market resumed its sideways trading with<a href="https://crypto.ro/en/news/june-predictions-key-indicators-suggest-ethereums-surge-past-4k/"> ETH</a> still leading the overall crypto market.</p> 
<p>They also noted that volatility expectations in the market are low and the IVs continue to fall across all major terms with only the current month’s ETH IV slightly higher. This is mostly due to the expectation of an ETF passing at the end of June.</p> 
<p>In the short term, investors can choose lower IV terms and prices and buy call options appropriately, which remain cost-effective.</p> 
<p>The Greeks.live report also mentioned that Bitfinex spot large investors began to continue to bottom out, and the BFX interest rate market can often be encountered in the 20% annualized interest rate orders. The right interest rate orders can be actively transacted and the use of high-interest mode could be a surprise.</p> 
<p>Regarding Bitcoin, so far, the coin remains surrounded by optimistic price predictions, and a<a href="https://crypto.ro/en/news/bitcoin-breakout-looks-inevitable-new-s2f-model-suggests-a-454k-price-target/"> massive breakout</a> is expected, according to a new S2F model revealed the other day by PlanB.</p> 
<p>At the moment of writing this article, BTC is trading close to $69k.</p> 
<div class="cryptoboxes " data-realtime="on">
 <div class="coinmc-chart coinmc-trigger">
  <div class="cmc-row middle-md between-md">
   <div class="cmc-md-7 cmc-sm-12 cmc-xs-12">
    <ul class="coinmc-filter coinmc-chart-period">
     <li>
      <div class="coinmc-filter-label">
       Zoom
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="hour">
       Hour
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="day">
       Day
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="week">
       Week
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-period="month">
       Month
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="year">
       Year
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="all">
       All Time
      </div></li>
    </ul>
   </div>
   <div class="cmc-md-5 cmc-sm-12 cmc-xs-12 end-md start-sm start-xs">
    <ul class="coinmc-filter coinmc-chart-type">
     <li>
      <div class="coinmc-filter-label">
       Type
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-type="chart">
       <i class="fas fa-chart-line"></i> Line Chart
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-type="candlestick">
       <i class="fas fa-sliders-h"></i> Candlestick
      </div></li>
    </ul>
   </div>
  </div>
  <div class="cmc-row">
   <div class="cmc-md-12">
    <div class="chart-wrapper" data-config="{&quot;type&quot;:&quot;chart&quot;,&quot;coin&quot;:&quot;bitcoin&quot;,&quot;symbol&quot;:&quot;BTC&quot;,&quot;currency&quot;:&quot;USD&quot;,&quot;period&quot;:&quot;month&quot;,&quot;theme&quot;:&quot;light&quot;,&quot;smooth&quot;:true,&quot;areaColor&quot;:&quot;rgb(37,179,98, 0.8)&quot;,&quot;font&quot;:&quot;Saira&quot;,&quot;rate&quot;:1}"></div>
   </div>
  </div>
 </div>
</div> 
<p>BTC began the week by surpassing the important mark of $70k on June 3.</p>

Top 7 Events This Week That Could Impact Bitcoin

Table of Contents

crypto.ro global

Other articles published on Jun 4, 2024

Floki Sees $12M Investment From DWF Labs: 'Price Discovery Again Soon,' Forecasts Trader

Ethereum (ETH) Set For ‘Glorious Year,’ Analyst Eyes $10,000 Target

Polkadot Becomes The Most Decentralized Blockchain, But DOT Price Remain Bearish

Core Scientific Signs $3.5 Billion, 12-Year Deal with AI Firm CoreWeave

Binance Prepares for Europe's MiCA Rules of Stablecoins

BlockDAG’s Keynote 2 Projects $10 Target by 2025, Surpassing Cosmos (ATOM) Staking & Polkadot (DO...

Join our free newsletter for daily crypto updates!