Altcoin
Bitcoin & Altcoins In Focus As Market Eyes Ether ETF, Fed Chair Comment, & Other Events
The crypto market is buzzing with anticipation with a flurry of key events expected to impact Bitcoin and altcoins trading this week. The crypto market has been highly volatile lately, with BTC dumps from the governments, Mt. Gox repayment woes, and other related factors. However, this week would be crucial for the digital assets space, with a flurry of events expected to weigh on the market sentiment.
Bitcoin & Altcoin Traders Eyes Key Events This Week
Ethereum ETF To Fuel Market Sentiment
The soaring buzz over the U.S. Spot Ethereum ETF approval by the SEC has been evidenced by the recent discussions in the crypto market. Apart from altcoins, the approval is also expected to show its impact on Bitcoin performance.
Meanwhile, recent comments from Bloomberg senior ETF analyst Eric Balchunas and ETF Store President Nate Geraci highlight the SEC’s silence on the matter. However, despite the “tight-lipped” stance from the regulators, the experts still provided a bullish outlook on a potential approval or advancement in this coming week.
Notably, the market is anticipating BTC and altcoins to rally on the heels of the Ethereum ETF approval. In addition, the recent robust inflow into the U.S. Spot Bitcoin ETF has further bolstered market sentiment.
Remarks From Fed Chair & Other Officials
In macroeconomic news, Fed Chair Jerome Powell is scheduled to speak on Monday, July 15, which would be closely watched by the financial sector. Notably, given the set of mixed inflation data recently, Jerome Powell’s comment would be crucial in gauging the central bank’s current stance with their monetary policy.
For context, the latest U.S. CPI data has indicated a significant cooling inflation in the nation. Notably, it has also raised bets over three interest rate cuts in 2024, up from the previous expectations of two rate cuts. However, the U.S. PPI last week came in hotter-than-anticipated, weighing on the broader market sentiment.
Having said that, if the Fed Chair comments on the central bank’s upcoming move with the interest rate plans, it might influence the BTC and crypto market sentiment. In addition, other Fed officials like Fed Gov. Adriana Kugler, NY Fed President Williams, and Atlanta Fed President Raphael Bostic are also scheduled to share their remarks this week.
Ripple Vs SEC Lawsuit
The XRP price has rallied significantly over the weekend, as July 13 marks an important date in Ripple Vs. SEC lawsuit. On July 13, 2023, Judge Torres ruled that XRP is not a security, and this year, Ripple executives have lauded the development.
As a result, XRP soared over 12%, reflecting growing market interest in the crypto. However, amid this, the U.S. SEC has announced to hold a “closed” meeting on July 18. Having said that, the XRP community speculates that the meeting could be focused on a potential settlement in the Ripple Vs SEC lawsuit.
In addition, a flurry of market experts also anticipates the legal battle to come to a conclusion very soon. Considering that, the lawsuit conclusion is likely to have a significant impact on the altcoins sector as well as on Bitcoin.
Also Read: Binance CEO Shares Developments In Post-CZ Era and Crypto Outlook
What’s Next For Bitcoin and Altcoins?
The events will play a crucial role in shaping the future of the cryptos. In addition, the selloff pressure from the German government also shrunk, with the govt selling its last BTC in the prior week.
On the other hand, U.S. Spot BTC ETF issuers globally are on a buying spree, according to the latest reports. If the momentum continues, BTC could witness a significant uptick in its price. In a recent analysis, crypto market expert Ali Martinez said that if Bitcoin can break above the $59,200 mark, the next stop for BTC could be around $64,000.
Talking about the altcoins, crypto analyst Michael van de Poppe sees a bright future for the sector. After a recent price correction, van de Poppe points to a strong weekly bounce and supports around $500 billion market capitalization. Based on this, he predicts altcoins will reach a new all-time high by early 2025.
Also Read: Solana Co-founder Highlights US Govt’s Crypto ‘Mess’
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Payments company Ripple has partnered with HashKey Capital to launch Asia’s first XRP tracker fund. The new fund will track the price of XRP cryptocurrency, as per statements from both firms.
Ripple Steps In As Anchor Investor
Crypto community figure Crypto Eri first highlighted the partnership, noting that the San Francisco payments firm will invest in the new HashKey XRP Tracker Fund.
The fund is a major step towards extending institutional access to XRP in Asian markets. As HashKey reports, this is the first of potentially several such investment products in the region following the price performance of XRP.
Big XRP News in Japan 🇯🇵. @Ripple to make initial investment in Asia’s first #XRP investment product.
Professional investors get exposure to XRP without directly holding the asset. Investors can purchase the fund with cash or in-kind, and the fund is structured to accommodate… pic.twitter.com/Phs3UrVrAQ
— 🌸Crypto Eri ~ Carpe Diem (@sentosumosaba) April 18, 2025
Image: Kraken Blog
How The Fund Works For Investors
Investors of the fund may have flexible involvement options. The investors may give their contributions through conventional fiat monies or pay in kind. The structure of the fund grants the subscribers liberty to purchase or redeem shares per month.
HashKey’s Liquid Fund partner Vivien Wong identified XRP’s increasing relevance in the crypto space. She indicated that XRP has interested global companies that utilize it for different things, including tokenization of assets and as a store of value.
Ripple Sees Growing Demand In Asia-Pacific
Fiona Murray, the Managing Director of Ripple for Asia-Pacific, underlined the heightened demand for digital asset products within regulated frameworks for professional investors across the region.
The firms are not only focusing on the tracker fund. According to reports, they intend to seek other opportunities as well, such as introducing a money market fund on the XRP Ledger (XRPL).
Broader Context Of XRP Investment Growth
HashKey Capital has become a leading player in the cryptocurrency industry. The firm already provides investment products linked to Bitcoin and Ethereum, with both the Bosera HashKey Bitcoin Spot ETF and the Bosera HashKey Ethereum Spot ETF listed on the Hong Kong Stock Exchange.
The new XRP tracker fund is HashKey’s third cryptocurrency-tracking investment product. The company says it will convert the XRP product into an exchange-traded fund within two years, subject to required regulatory approvals.
This follows increased institutional demand for XRP. In the US, over 11 institutions have submitted applications to the US Securities and Exchange Commission to list spot-based XRP ETFs.
Featured image from Medium, chart from TradingView
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The price of Cardano has managed to stay resilient as market volatility has continued to grow, riding on new signals for ADA bulls to drive growth. Cardano has remained on the horizon over the past few weeks as it locked in to retail its ranking as the 10th largest cryptocurrency.
With technical indicators showing a potential rebound, such as the golden cross metric, the question remains whether the ADA price can break out of its current consolidation.
ADA and Mission With Market Bulls
Cardano’s price was $0.6282 at the time of writing, up marginally by 0.64% in 24 hours. ADA bounced back from a low of $0.6197 to a high of $0.6340 to extend its ongoing consolidation.
Despite this close trading range, the asset’s price will likely benefit from the positive shift in Open Interest. This metric, as measured by CoinGlass data, has jumped by over 4% in the past 1 hour, a visible change in direction.
With this short-term shift, the total funds committed to ADA in the market are now pegged at 1 billion, worth over $629 million. Open Interest is a key metric that depicts the total value of contracts opened in the derivatives market. The bigger this figure in dollar terms, the more likely a trend shift is.
This current adoption boost has placed the ADA price in the spotlight. With speculation growing on whether the ADA price could hit $3 or higher levels, commitment in the derivatives market can reshape sentiment.
Cardano Price and Golden Cross Setup
Over the past 7 days, the price of the top altcoin, now capped below the $0.6677 resistance level. However, this will change if the current Golden Cross formation plays out.
Per the ADA/USDT daily chart, two major indicators are flashing unique signals that must be watched closely. The Awesome Oscillator is still reading negative, a sign that, though bears remain in control, the excessive selloff might be thinning out.
The Golden Cross, on the other hand, is on the verge of a breakout. The short-term or 9-day Moving Average is about to exceed the long-term or 21-day moving average. If this trend materializes, the Cardano price breakout will be confirmed.
With this signal, an ADA price analysis that teased $4 may be possible despite recent whale selloffs.
Cardano In the News
Amid the sustained dynamic trends in the crypto market today, ADA has remained in the spotlight over the past week.
As reported by CoinGape, the long-anticipated Cardano-Bitcoin staking is likely to become a reality soon. This is a major complement to the growing list of ADA ETF products now filed with the Securities and Exchange Commission (SEC).
If approved alongside other altcoin ETFs, it might usher in another era of institutional adoption for Cardano, setting the coin up for price breakout.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Master Kenobi has provided a bullish outlook for the Dogecoin price, predicting that it could reach a new all-time high (ATH) in 55 days. He revealed what needs to happen for DOGE to achieve this milestone by June, based on his 55-day target.
How The Dogecoin Price Could Reach A New ATH By June
In an X post, Master Kenobi stated that the Dogecoin price will likely reach a new all-time high within approximately 50 to 55 days once it breaks above the trendline he highlighted on his accompanying chart.
The chart showed that the crucial price level DOGE needs to break above, based on this trendline, is $0.15488. The analyst then remarked that a conservative price target for the top meme coin would be $0.90 by June 5-10.
Master Kenobi had made this prediction while alluding to an earlier post in which he indicated that the Dogecoin bottom was almost near. In that post, he stated that the last time DOGE experienced a downturn, there was a 100-day period from the local bottom to the local top. He noted the meme coin is now halfway through a similar timeframe.
In line with this, the crypto analyst expects the Dogecoin price to reach a new all-time high (ATH) during this period, although he admitted that it is unclear whether it will break the psychological $1 level.
Crypto analyst Kevin Capital also suggested that a massive rebound was on the horizon for the DOGE price. In an X post, he stated that everything is going according to plan for Dogecoin. He urged market participants to stay patient, noting that every day that passes is another day closer.
DOGE Traders Remain Undecided At The Moment
In an X post, crypto analyst Trader Tardigrade indicated that DOGE traders are currently undecided on the meme coin’s next move. In an X post, he stated that the Dogecoin price structure has been converging into a triangle pattern, indicating market indecision.
He noted that during this period, buyers hesitate to buy high, while sellers are cautious about selling low, leading to conservative behavior on both sides. The analyst added that this pattern typically occurs between a downtrend and an uptrend.
This market indecision currently explains why DOGE investors continue to accumulate and dump their coins at will with no clear sign of active accumulation or a wave of sell-offs. As CoinGape reported, crypto whales recently dumped 570 million DOGE, as the Dogecoin price continues to trade sideways.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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