Critical Week in the Cryptocurrency Market: Three Developments Are Expected!

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this week cryptocurrency Three important events are expected to affect various investment classes, especially the market. As we reported as Koinfinans.com, the week that starts with the Bitcoin ETF opening for trading in Hong Kong will become even more complicated. Here are the important developments expected.

Bitcoin ETF and Ethereum ETF Launched in Hong Kong Started Strong!

In an environment where expectations are rising, Hong Kong Spot Bitcoin ETFstarted to be traded. This development marks an important milestone in the country’s efforts to develop as a regulated digital asset hub. does.

The approval and launch of these ETFs in Hong Kong appears to be in line with the growing trend seen in the United States, where the first Spot Bitcoin ETFs were introduced earlier this year.

The launch of ETFs that invest directly in Bitcoin and Ether on Tuesday will provide insight into market demand and acceptance of these investment instruments.

All eyes in the cryptocurrency and financial markets are on the outcome of the upcoming Federal Open Market Committee (FOMC) meeting. Because investors are eagerly awaiting insights into the Federal Reserve’s stance on recent macroeconomic trends in growth and inflation.

Although market expectations are that there will be no interest rate cut anytime soon, the decision on Wednesday, May 1 will provide critical guidance. Fed Chairman Jerome Powell’s subsequent press conference will add further clarity to the central bank’s outlook.

Important Developments Are Taking Place for the Cryptocurrency Market

All eyes are on the US labor market this week as the federal government prepares to announce April employment figures. Economists estimate that 250,000 jobs will be added to the economy. Keeping the unemployment rate below 4% would be a significant milestone and would coincide with one of the longest streaks below that threshold.

The latest data announced by the Bureau of Labor Statistics under the Ministry of Labor on April 10 revealed that the US consumer price index (CPI) exceeded expectations by increasing 0.4% on a monthly basis and 3.5% on an annual basis. This development may also indirectly affect the cryptocurrency market.


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