Ramazan Eles 
The cryptocurrency markets are gearing up for a potentially significant week ahead, with a series of key events and developments scheduled to take place. These include speeches by Federal Reserve Chairman Jerome Powell, the release of US inflation data, and potential progress on Bitcoin spot ETFs.
Powell’s Speeches in the Spotlight
Jerome Powell’s upcoming testimonies before the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday will be closely watched by investors for any hints regarding the Fed’s monetary policy plans. His remarks on the economic outlook, the possibility of future rate cuts, and the overall direction of the economy could have a significant impact on financial markets, including the crypto space.
Inflation Data Could Influence Fed’s Decision
The release of US CPI (Consumer Price Index) data on Thursday will be another crucial event for the markets. The consensus forecast for the headline inflation rate is 3.1%, down from 3.3% in May. A lower-than-expected inflation figure could increase the likelihood of the Fed implementing a rate cut in September, as the next Fed meeting in August is not expected to result in a decision.
Bitcoin Spot ETFs: Will They Be Approved This Week?
The approval of Bitcoin spot ETFs remains a hot topic in the crypto community, with some experts suggesting that the funds could be available for trading as early as this week. The Securities and Exchange Commission (SEC) has yet to approve any Bitcoin spot ETFs, but several applications are currently under review.
CFTC Hearing on “Digital Commodities”
The House Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC), will hold a hearing on “Digital Commodities” on Wednesday. CFTC Chairman Rostin Behnam will be present to answer questions from committee members regarding the regulation of digital assets. The CFTC plays a pivotal role in overseeing derivatives markets, including those involving cryptocurrencies.
“Don’t Let Trump Take Crypto” Meeting
Congressman Ro Khanna, a Democrat representing California’s 17th congressional district, will host a meeting in Washington, D.C., on Tuesday to bring together key figures from the crypto industry, policymakers, and business leaders. The meeting, titled “Don’t Let Trump Take Crypto,” aims to demonstrate the bipartisan support for the crypto sector and counter the perception that former President Donald Trump is more supportive of crypto than the current administration.
Additional Senate Hearings
In addition to the aforementioned events, Senate hearings are scheduled to take place for SEC Commissioner Caroline Crenshaw’s nomination to remain in her position and for Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero’s nomination to become FDIC Chair.
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