Last week, the cryptocurrency market, overshadowed by the US Federal Reserve (Fed) interest rate decision, experienced significant volatility. Although the market is expected to calm down this week, there are important developments to follow.
What happened last week?
Before moving on to the developments in this new week, we share below a summary of what happened last week:
- The lawsuit between the US Securities Exchange Commission (SEC) and Ripple Labs caused tension in the crypto market. There was concern that the outcome of the case could also affect the security status of other altcoins such as Ethereum.
- At the Federal Open Market Committee (FOMC) meeting, it was decided to keep interest rates constant. This decision partially negatively affected investors’ interest in the crypto market.
- The mass exodus of investors from US Bitcoin ETFs has created a sense of insecurity in the market. This situation was interpreted as a decrease in the interest of institutions in cryptocurrencies.
- Bitcoin price rebounded over the weekend, falling from its all-time high. Still, there was a general atmosphere of uncertainty in the market.
What should we follow for the cryptocurrency market this week?
So, what are the important developments this week?
- Monday, March 25: PDA, one of the South Korea-based cryptocurrency exchanges, will be delisted. Additionally, a hearing will be held in the LUNC-LUNA-USTC case between the SEC and Do Kwon. The outcome of this case may affect regulatory discussions in the crypto market.
- Tuesday, March 26: zkEVM mainnet hardfork will take place in the Immutable X (IMX) project. This technical development aims to increase the scalability of the Ethereum network. Additionally, important announcements are expected for different cryptocurrencies.
- Wednesday, March 27: The beta launch of the mainnet in the VeChain (VET) project will be held. Cryptocurrency and stock exchange Robinhood may also mobilize the market by making an important announcement.
- Thursday, March 28: Sentencing of former FTX CEO Sam Bankman-Fried will be announced. This decision may raise audit issues in cryptocurrency exchanges. In the USA, the announcement of economic data (initial unemployment claims and GDP) may direct the market.
- Friday, March 29: US markets will be on holiday, but the cryptocurrency market will continue trading. On this date, the Optimism (OP) project will be unlocked. In addition, the core PCE price index, an important economic data in the USA, and Fed Chairman Jerome Powell’s speech will be closely followed.
What is the future shaping in the crypto market?
Bitcoin’s upcoming halving event is creating excitement in the market. However, analysts warn that this halving may not lead to sudden price increases as in the past. On the other hand, the Fed’s future interest rate decisions will significantly affect the cryptocurrency market, as well as all financial markets. The speeches and economic data to be held this week are among the factors that will determine investors’ risk perception and interest in cryptocurrencies.
In summary, although the cryptocurrency market has followed a calmer course this week, there are important developments to follow. These developments can play a critical role in shaping the direction and future of the market. Investors are recommended to make their investment decisions by following this news flow closely.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.