3 Major Things That May Move Crypto Markets in The Week Ahead

Crypto markets have made small gains over the weekend and remain green on Monday, but can that momentum continue throughout the week?

An Iran peace deal has now been announced by Pakistan, confirmed by US leaders and Iranian media, and backed by Qatar, reported the Kobeissi Letter. US stock futures are in the green, and oil prices are tumbling. Could this finally be the week when a deal is sealed?

Economic Events June 15 to 19

Oil prices have fallen to their lowest levels since before the conflict began, with WTI dropping 4% to $80 while Brent Crude fell 3.4% to $84.

The week ahead will see May Industrial Production data on Monday, May Housing Starts data on Tuesday, and the month’s Retail Sales report on Wednesday.

However, all eyes will be on the Fed’s interest rate decision and Kevin Warsh’s first meeting as Chair on Wednesday. However, economists are unsure how Warsh will approach interest-rate policy.

“It all puts Warsh in a difficult position,” said Joseph Brusuelas, chief economist at RSM, according to MarketWatch.

There is currently a 96.6% probability that rates will remain unchanged this week, according to the CME Fed Watch tool. June’s Philly Fed Manufacturing Index is due on Thursday, and US markets are closed for the Juneteenth federal holiday on Friday.

Crypto Markets Turn Green

It is a rare green Monday in Asia for digital assets, with markets gaining 1.3% on the news of a Middle East peace deal.

Bitcoin gained 1.6% to reclaim $65,500, its highest level for 11 days. Resistance currently lies just above $67,000, and this is the next target for continued upside momentum.

Ether added 2.3% but remains very weak at just over $1,700. The $2,000 psychological level is the major hurdle the asset needs to overcome. Altcoins were mostly green, with larger gains for Hyperliquid, Zcash, and Cardano.

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