Crypto traders will be hoping the week offers a reprieve from months of geopolitical anxiety that has stifled risk assets following Sunday’s announcement of a tentative peace deal between the US and Iran.
Bitcoin rose to nearly $66,000 on Monday, nearly 3.5% above Friday’s level, while cryptocurrency-linked stocks including Strategy ( MSTR ) and Galaxy ( GLXY ) advanced in premarket trading.
However, there is still a caveat. An April truce fell apart, and US strikes broke another truce last month, with crypto prices taking a hit.
Wednesday sees Kevin Warsh’s first rate decision as chairman of the Federal Reserve. The forecast is without changes to the current level.
The introduction of a new dot plot – which charts individual Fed policymakers’ interest rate projections – coupled with a shortened trading week due to Friday’s June 1900, suggests liquidity is likely to decrease.
This week’s data calendar and the Fed’s guidance will ultimately determine whether crypto can capitalize on the apparent geopolitical tailwind and build a final rally.
What to see
(All times ET)
- Crypto
- June 15: The CFTC opens its 45-day formal public comment window following its announcement of proposed rulemaking targeting prediction markets.
- June 16: Industry groups begin formatting formal responses to the US House Ways and Means Committee following its major legislative hearing on the digital wealth tax proposal.
- Macro
- 15 June at 8.30: US Empire State Manufacturing Index for June estimated 12.0 (previous 19.6)
- 17 June at 14: US Fed Interest-Rate Decision (FOMC) estimated 3.50%–3.75% (Previous 3.50%–3.75%)
- 18 June at 8.30 am: Initial US jobless claims for the period ending June 13 estimated at 222,000 (previously 229,000)
- June 19: The US stock markets are closed in connection with the June 1900 Confederation Day
- June 19: US, Iran sign cease-fire agreement.
- Earnings
Token Events
- Governance Voices and calls
- Cratos votes to extend the period in which users receive rewards for actions until July 31st, after approving CIP-41, which extended the daily token reward limit under the current reward standard until June 30th. Voting ends on June 18.
- Rocket Pool votes on rebalancing RPL inflation allocation to increase pDAO protocol funding during and after the Saturn 2 transition. Voting ends on June 19.
- Orderly votes to remove eight tokens: BIRB, PAXG, SKY, SNX, AR, FIL, STBL, MYX. Voting ends on June 22.
- Unlocks
- June 16: Arbitrum (ARB) unlocks 1.68% of its circulating supply, worth $7.76 million.
- June 20: Kaito (KAITO) to unlock 1.76% of its circulating supply, worth $8.39 million.
- The token is launched
- June 15: C8ntinuum (CTM) to list on Bitmart.
- June 17: Botchain (METAKPK) to list on Bitmart.
