Bitcoin and several altcoins are likely to be influenced by the upcoming macroeconomic events this week. Two macroeconomic events could boost Bitcoin’s volatility this week. The Federal Reserve’s press conference following the rate decision and the Consumer Price Index (CPI) data, both due on June 12, could help Bitcoin break out from its tight range. Investors anticipate the breakout to the upside, which could explain the solid buying last week.

CoinShares weekly fund flows report on June 10 shows more than $2 billion in inflows into digital asset investment products. That increased the digital investment product’s five-week total inflows to $4.3 billion.

The bulls managed to keep Bitcoin above the 20- day EMA ($68,726) but failed to start a strong rebound off it. This suggests a lack of aggressive buying at current levels. The bears will try to sink the price below the 20-day EMA.

If they do that, the BTC/USDT pair could sink to the 50-day SMA ($65,906). This level may attract strong buying by the bulls because a break below the 50-day SMA will tilt the short-term advantage in favor of the bears. The pair may then fall to $60,000. The $72,000 to $73,777 zone is the critical overhead resistance to watch out for. If buyers overcome this zone, the pair could pick up momentum and surge to $80,000 and eventually to $88,000.

Lastly please check out the advancement’s happening in the cryptocurrency world

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