June Crypto Economic Calendar

After a period of relative quiet, the market has taken off again with both Bitcoin and Ethereum once again looking towards all-time highs. The price movements come amid positive news about inflation and speculation over an Ethereum ETF approval. These external and internal events are again expected to play a role in June, but which way will they send the market? Let’s review these movements and what June might bring—it’s looking like a busy month ahead.

First, a look at May 

The month can effectively be divided into two chapters: before 20 May and after 20 May. 

Pre-20 May saw Bitcoin’s price moved largely sideways between $60,000 and $66,000, after recovering from a dip below the $60k mark at the start of the month. The price saw a bump around 15 May, coinciding with the unexpected cooling of Consumer Price Index (CPD) numbers, leading many analysts to believe that we could see the Federal Reserve Bank lowering interest rates later in the year. Another rally followed on 20 May, pushing the price above the key $70,000-level for the first time since the sell-off at the start of April. 

Ethereum spent most of May a few nudges above or below $3,000. The turnaround happened on 20 May, though, when the price of the original smart contracts crypto shot up by more than 20%. The rally followed reports that the Securities and Exchange Commission (SEC) had potentially had a change of heart about the approval of a spot Ethereum exchange-traded fund (ETF) in the US. Most other cryptocurrencies followed the Ethereum rally, with Solana, Uniswap and a few more also showing double-digit returns in the following days. 

Investors are now closely monitoring developments in the crypto ETF space, as well as trends in inflation and interest rates.

What’s happening in June? 

What? ETH Belgrade Conference

?  When? Monday to Wednesday, 3-5 June

Why investors care: This event is part of the larger Belgrade Blockchain Week, focusing on Ethereum development. It will feature discussions and presentations from leading figures in the Ethereum community, potentially driving interest and investment in Ethereum and related projects​ 

What? US unemployment rate and non-farm payrolls

?  When? Friday, 7 June

Why investors care: US unemployment numbers serve as a critical indicator of the overall health of the US economy. 

What happened last month? The April numbers from the Bureau of Labor Statistics showed a cooling in US jobs numbers, with annual wages dipping below 4% for the first time in years. 

What? US inflation rate numbers + Fed interest rate decision

?  When? Wednesday, 12 June

Why investors care: The inflation rate in the US will decide the Fed’s plans with interest rates, which the Federal Reserve Bank will announce on the same day as the release of the latest inflation numbers.

What happened last month? The April Consumer Price Index (CPI) numbers from the US showed an unexpected cooling in inflation. Interest rates were kept unchanged.

What? BTC Prague

?  When? Thursday-Saturday, 13-15 June

Why investors care: This major Bitcoin conference in Prague brings together key players in the Bitcoin ecosystem for discussions around the current state and future of Bitcoin. 

*This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.