Key Events That Could Drive Bitcoin and Ethereum This Week

This Week’s Economic Events To Look Out For

Several key economic reports are scheduled for release this week that could influence the cryptocurrency market:

• August Consumer Price Index (CPI): Scheduled for release on Wednesday, September 11, this report is a major inflation indicator used by the Federal Reserve. It reflects price trends in the economy and influences consumer spending.
• August Producer Price Index (PPI): This report will be available on Thursday, September 12.
• Initial Jobless Claims Data: Also released on Thursday, September 12, this data provides insight into the labor market.
• Michigan Consumer Sentiment Index and Consumer Inflation Expectations: These preliminary readings for September will be released on Friday, September 13.

Following last week’s weak economic data, the market is assessing the likelihood of a 25- or 50-basis point interest rate cut at the September FED meeting. The CPI result will play a crucial role in this evaluation.

ETFSwap (ETFS): Revolutionary Platform To Hedge Investors Against Market Decline

ETFSwap (ETFS) is a groundbreaking cryptocurrency that merges traditional finance with blockchain technology. It stands out in the world of tokenized ETF investments by allowing users to trade ETFs with leverage of up to 10x. Key features of ETFSwap (ETFS) include:

• AI-Driven ETF Screener and Tracker: Provides real-time market data to aid in informed trading decisions.
• User Anonymity: The platform does not require KYC verification, facilitating easy entry and 24/7 trading with optimal liquidity.
• SolidProof Verification: The platform’s KYC verification has been thoroughly vetted by SolidProof, a renowned crypto security firm.

The core of ETFSwap (ETFS) is its native ERC20 token, ETFS. Holding ETFS tokens offers several benefits, including:

• Staking Rewards: Token holders can stake ETFS tokens to earn up to 36% returns on their investment.
• Voting Rights: Token holders have a say in the direction of the ETFSwap (ETFS) ecosystem.

Despite still being in the presale stage, experts predict a remarkable 10,000% price increase for ETFS, potentially raising its value to $1.

How Will Bitcoin (BTC) And Ethereum (ETH) React?

Bitcoin (BTC) is currently facing challenges, with its price dropping to around $54,523. The bearish sentiment surrounding Bitcoin has intensified following a softer-than-expected US jobs report for August. Key support levels are showing signs of instability. If Bitcoin fails to maintain the $53,500 support line, it could decline further, potentially reaching as low as $45,000.

Similarly, Ethereum (ETH) is facing resistance at the $2,327 level, having declined by 12.37% last week. On Monday, it saw a slight uptick of 0.22%, trading at $2,302. If Ethereum continues to encounter resistance from the $2,327 level and its descending trendline, it could decline by 9%, potentially retesting its weekly low at $2,118. Like Bitcoin, Ethereum’s price may also be influenced by upcoming economic indicators. Negative indicators could exert bearish pressure on both Bitcoin and Ethereum as investors react to the possibility of interest rate hikes and vice versa.

Conclusion

The performance of Bitcoin and Ethereum is closely tied to this week’s economic indicators. A negative economic outlook could adversely affect their prices. Consequently, ETFSwap (ETFS) presents a more promising investment opportunity than Bitcoin and Ethereum, as it is not directly impacted by this week’s economic events. Currently priced at $0.03846, investing now could yield a substantial profit of 10,000% when the platform finally launches.