U.S.-Iran ceasefire ends, Tesla earnings: Crypto Week Ahead
Your look at what’s coming in the week starting April 20.
What to know:
Crypto Week Ahead is a comprehensive list of what’s coming up in the world of cryptocurrencies and blockchain, as well as the major macroeconomic events that will influence digital asset markets.
With the ceasefire set to expire by mid-week, traders will be watching whether the risk-on rotation can survive a renewed energy shock.
The technical level to watch is clear. Luke Nolan, senior ETH research associate at CoinShares, told CoinDesk the follow-through hinges on bitcoin holding its ETF cost basis near $74,000.
“With Hormuz reopening, oil is off and equities have caught a bid back to ATHs, pulling crypto higher with it,” Nolan said. “Follow-through now hinges on BTC decisively holding above its ETF cost basis (~$74k), which would confirm the risk-on rotation already visible in flows. ETF flows have turned positive the last three sessions, and a pickup in that pace would be supportive of the move higher.”
A decisive hold above $74,000 into the ceasefire deadline, paired with a fourth straight session of positive ETF inflows, would validate the rotation thesis. A break below would bring volatility back into the sector.
