"Hopefully the price of BTC will go up, don't disappoint investors again."
The cryptocurrency market saw a slight rise following the filing of BlackRock's iShares spot Bitcoin (BTC) while the issues of Binance and Coinbase which were subject to legal action by the Securities and Exchange Commission (SEC) of the United States (US) are easing.
There is no denying that BTC and Ethereum (ETH) prices have now managed to break above $26,900 and $1,730 respectively, but investors are still cautious ahead of news including major crypto events this week.
Investors will be looking for new clues regarding monetary policy actions to be implemented in the coming months through Federal Reserve (Fed) Chairman Jerome Powell's testimony in the Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday.
While Fed officials Lisa Cook and Philip N. Jefferson including James Bullard, John Williams and Raphael Bostic will also testify before the US Congress this week.
Then, the Bank of England (BoE) on Thursday is expected to raise interest rates by 25 basis points to curb inflation, and investors are waiting for new guidance from the European Central Bank (ECB) after further raising rates by 25 basis points.
Crypto investors are also currently awaiting the release of inflation data by several countries and the decision of China's central bank to resume activity through stimulus and other measures that could influence market movements.
As of this writing, BTC price has surged by 2.59% to $27,084 in the last 24 hours with a market cap of $525 billion and is up 4.58% over the last week.
While ETH is up around 1.13% at $1,744 in the last 24 hours with a market cap of $209 billion and Ripple (XRP) gained 2.08% at $0.49 but still recorded a 4.94% decline in the last seven days.
