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Important market data tomorrow. How does inflation data affect the crypto market?

This week is key for the crypto market, as many news will show the direction that players in the sector will take.

From inflation data to legislation that will impact the crypto industry, and even updates on Ethereum spot ETFs and the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple.

Consumer Price Index in the United States on Wednesday

This week, the crypto market will see the release of... US CPI data, which could be busy determining the direction of the cryptocurrency market. Analysts expect core CPI to rise 0.3%, up from 0.4% in March.

"Investors need reassurance that inflation will not rise again, and may even fall, to allow the Fed to cover at least one or perhaps two cuts before the end of the year,” he said. He said Thomas Hayes, president of Great Hill Capital LLC.


SEC Position on Ethereum Spot ETFs

Expectations are growing for the SEC's upcoming approval by... Ethereum Spot ETF . The regulator recently postponed by 60 days, until July 5, the review of the Ethereum ETF proposed by Galaxy Invesco. and at the same time, Deleted ARK Invest and 21Shares are betting from SEC file due to regulatory crackdown on cryptocurrency storage.

Analysts are already predicting that Ethereum will drop to $2,500 if the ETF is rejected. However, if approved, ETH could surpass $4,000.

Ethereum ETF Review Dates.
Ethereum ETF Review Dates. Source: Ex/Bloomberg

In the coming weeks, the SEC will issue a decision on several Ethereum ETF proposals. These include BlackRock, Grayscale, Arc Invest, 21Shares, Fidelity, Vanic, Hashdex, Franklin Templeton, Invesco Galaxy Digital and Bitwise.

Encryption regulations in the US Congress

House Financial Services Committee Chairman Patrick McHenry said: US Congress He could vote on the Financial Innovation and Technology for the 21st Century (FIT21) Act before the end of May. will be imposed FIT21 Jurisdiction over cryptocurrencies in investment contracts.

Representatives believe this legislation will strengthen U.S. leadership in the international financial system for decades.

“With today’s vote announcement, Congress will take a historic step toward providing a clear regulatory framework for digital asset markets,” McHenry said.

Expected SEC vs Ripple Update

Finally, one of the most iconic court cases in the crypto market, SEC v Ripple, is expected to make headlines. The latest development in this regard is that both parties involved have filed detailed written motions to conclude the proceedings.


This evidence represents one of the last steps before judges decide the case. The goal is to infer whether Ripple should pay a significant fine for XRP sales.

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