Crypto Market Update: Most important events of the past and future
The trading week was particularly eventful. While it began full of optimism, investors' hopes increasingly dimmed toward the end. In this article, you'll learn what developments underlie all this and how they could also influence the future of the crypto market.
The trading week began euphorically with a 4.26% rise in the Bitcoin price, as the talks between the US and China in London showed progress . This issue has impacted not only stocks and bonds but also the crypto market. Therefore, the rapprochement between the two nations has renewed hope, especially on critical issues such as export restrictions on AI chips and rare earths.
Tuesday also initially turned out to be positive, as trade talks between the two nations continued, with representatives from both sides appearing very optimistic. Finally , they even considered making the 90-day tariff pause a permanent solution . However, some analysts still consider these basic tariffs to be inflationary, while at the same time, financial conditions have become increasingly loose.
Likewise, expectations for Fed interest rate cuts have shifted from July to September . Market participants also viewed inflation data positively, with the CPI coming in at 2.4%, slightly lower than the expected 2.5%, but 0.1% higher than the previous month. Core inflation was also 0.1% higher than the previous month and within expectations.
Furthermore, the first signs of what will affect the crypto market next emerged on Wednesday. Due to the first reports of a possible Israeli attack on Iran and the relocation of US diplomats from the region , the crypto market already showed signs of weakness towards the close of trading, as many may have recalled similar incidents to the first Israeli attack.
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Despite more and more companies opting for crypto treasury , whales increasing their Bitcoin holdings at a parabolic rate, and exchange holdings dwindling as multiples of the mined volume are acquired daily, the crypto market still came under severe pressure on Thursday. Israel attacked at least 100 targets in Iran in the early morning hours , including its nuclear program.
As a result, Bitcoin temporarily lost more than 5% after its recovery, falling to a price of USD 102,759, but quickly recovered. After all, many bulls are simply waiting for more favorable prices and have already programmed their orders. Thus, BTC was quickly bought up again , as already indicated by the capitulation pattern on the hourly chart.
Even though Iran responded with a counterattack and the Israeli population was prepared for the conflict to continue for several more weeks , the crypto market seems to be unaffected. However, the situation could escalate, as Iran threatened to close the Strait of Hormuz, which is crucial for global trade and oil. However, military conflicts usually only affect the crypto market for around five days.
Even if crypto investors are now less affected by the Middle East conflict, this is still likely to have far-reaching effects on oil prices and therefore also on inflation . Especially if the trade route is actually closed or at least partially blocked, this could jeopardize central banks' interest rate cuts for the time being . Nevertheless , the measures taken so far continue to have a positive effect, albeit with a delay, via the global money supply (M2).
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The launch of the Bitcoin scaling solution Bitcoin Hyper was also particularly noteworthy. Its high speed and low fees are designed to enable even the most demanding applications. Hyper Layer 2, with its SVM, can benefit from the chain's outstanding performance, with a latency of 100 ms and 1.2 million TPS .
Furthermore, the new Bitcoin ecosystem also enables interoperability between different blockchains , such as Hyper Layer 2, Bitcoin, and Solana. This also makes it easier to access applications from other ecosystems or leverage Bitcoin's enormous liquidity . All of this could boost Web 3, with some crypto experts expecting BTC itself to become the market leader in this regard.
https://twitter.com/BTC_Hyper2/status/1933062604240408664
The Bitcoin Hyper team also plans to provide software developer kits (SDKs) . These will make it easier for third parties to offer their applications and other services via the network. In this regard, they even plan to recruit other developers and teams to scale the ecosystem faster, more cost-effectively, and more efficiently . This will create organic demand that supports the coin.
Many didn't want to miss the opportunity to pre-sell Bitcoin Hyper, which is why they eagerly bought coins for the equivalent of USD 1.24 million in the first few days. The $HYPER token is available to interested parties for less than two more days at the current asking price of USD 0.0119. Due to the gradual price increase and the declining staking yield, currently at a high 601% per year , time is running out for those interested in securing these favorable conditions.
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