From June 9 to 15, key events in the cryptocurrency market include discussions on the crypto market structure bill in the US, the release of Consumer Price Index (CPI) data, and token unlocks from major projects.
Overview of the Crypto Market Structure Bill
On June 10, the US House of Representatives will begin reviewing a bill aimed at clarifying regulatory frameworks for cryptocurrencies, including the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The success of this legislation could simplify compliance and attract institutional investors.
Impact of CPI Data on the Market
The May Consumer Price Index (CPI) report will be released on June 11. This report is expected to significantly influence the market. If the data comes in lower than expected, it may raise expectations for rate cuts from the Federal Reserve, which typically has a positive effect on cryptocurrency prices.
Token Unlocks from Aptos and Others
On June 12, Aptos will unlock approximately 11.31 million tokens worth around $53.27 million, representing 1.79% of its circulating supply. In the following days, similar unlocks will occur from Immutable and Starknet, which may also increase selling pressure and affect short-term price fluctuations.
This week presents significant events that could impact the cryptocurrency market: the discussion of the bill, the release of CPI data, and substantial token unlocks. These factors may have a notable influence on the market's short-term dynamics.
