Here are some events happening this week that could affect crypto

The crypto market is like any financial market and is affected by events according to their outcome. With the new week has come some important events that will undoubtedly have an impact on the crypto market and the prices of the digital assets that trade in it. These events are important to keep an eye on as they are closely watched by investors.

Some events to watch out for

Now, the FOMC meeting is something that many crypto investors have probably heard about, but may have no idea what it means. FOMC stands for Federal Open Market Committee, which is the arm of the Federal Reserve that determines the monetary policy of the United States going forward. The FOMC meeting is where these policies are decided, and given that they control the nation’s money supply, their decision goes a long way in determining citizens’ purchasing power.

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The FOMC meeting is held on Tuesday, and by default the announcement will be made the following day, which is Wednesday. The results of each meeting can affect the financial markets and trigger volatility across each meeting.

Another important event taking place this week is the earnings reports of some of the biggest players in the technology space. These household names include Meta (formerly Facebook), Microsoft and Google, with the last two reporting earnings on Tuesday while Meta reports on Wednesday. In addition, technology giant Apple will publish its earnings reports on Thursday.

What is revealed will directly affect the shareholders of these companies, which affects investments in the stock markets. And given the crypto market’s high correlation to the macro markets recently, there is bound to be a ripple effect.

Another incredibly important event in the US GDP releases for Q2 2022. These will show how the US economy performed in Q2. All of these are likely to trigger volatility in the market for the week, so investors should keep an eye on these.

Crypto market issues

In addition to these events, the crypto market is also not completely out of the woods with its own internal issues. The funds lost due to the bankruptcy of prominent crypto companies such as 3AC and Celsius, as well as the LUNA crash, continue to haunt the market. Sentiment has yet to fully recover from these events, and investors remain uncertain if and when they will ever be able to recover lost funds.

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Nevertheless, the market continues to hold up well even in the face of such adversity. Accumulating trends across major cryptocurrencies like Bitcoin and Ethereum set a precedent that the market could be down, but investors aren’t giving up just yet.

Featured image from Forex Trending, chart from TradingView.com

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