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Investors in the crypto market are preparing for a busy week beginning July 15, as fresh inflation data and earnings from major U.S. companies take center stage. The Consumer Price Index (CPI) and Producer Price Index (PPI) readings will be closely watched ahead of the Federal Reserve’s meeting on July 29, while recent commentary from
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Ethereum (ETH) is entering a critical week, with technical signals, on-chain data, and a major upgrade all converging. The Pectra Upgrade, set for May 7, aims to improve staking and wallet functionality, but short-term volatility is likely during the rollout.
Meanwhile, ETH’s BBTrend sits at 1.22, showing early bullish momentum, though not yet strong enough to confirm a breakout. At the same time, whale activity remains near 5,463 addresses, and price continues to trade in a tight range between $1,828 and $1,749—setting the stage for a potential breakout or breakdown.
Ethereum’s highly anticipated Pectra Upgrade is set to go live on May 7, introducing 11 new Ethereum Improvement Proposals (EIPs). EIP-7251 stands out for raising the staking cap from 32 ETH to 2048 ETH, aiming to streamline validator operations and boost staking efficiency.
The upgrade also includes wallet improvements focused on user experience, such as easier recovery and gasless transactions, which could drive broader dApp adoption. While this may increase ETH demand long term, exchanges could temporarily halt ETH transfers during deployment, causing short-term volatility.
Though the upgrade promises significant enhancements, it has already faced multiple delays due to extended testing on networks like Hoodi and Sepolia. A smooth rollout may boost confidence and price, but any technical issues could trigger negative market reactions.
Ethereum’s BBTrend indicator is at 1.22, signaling a mild bullish bias. Over the past day, the BBTrend reached a high of 2.23, showing stronger momentum before pulling back slightly.
Although the current reading has cooled, it remains positive, suggesting the uptrend is not yet invalidated. Traders are watching whether BBTrend can rise again to confirm renewed strength or if momentum continues to fade.
The BBTrend (Band-Break Trend) is a volatility-based indicator designed to detect the strength and direction of price trends. Readings above 1.00 typically suggest a bullish trend, while readings below -1.00 indicate a bearish trend.
Values between -1.00 and 1.00 are considered neutral or trendless, signaling either sideways movement or weak conviction in either direction. The farther the BBTrend moves from zero, the stronger the trend, making values like 2.23 notable for trend confirmation.
With ETH’s BBTrend at 1.22, the indicator hints at a weak but positive trend—suggesting Ethereum may be entering the early stages of an uptrend.
However, it’s not a strong breakout level, meaning the price could still reverse if selling pressure increases or momentum fades.
A push back above 2.00 would likely confirm sustained bullish momentum, while a drop below 1.00 might indicate a return to consolidation or even a shift to bearish conditions.
Adding to the broader picture, the number of Ethereum whales—addresses holding between 1,000 and 10,000 ETH—currently stands at 5,463.
This number has fluctuated in recent weeks, struggling to break decisively higher. Whale activity is a critical on-chain signal, as these large holders often influence price movements through accumulation or distribution. A steady or rising whale count typically signals confidence and long-term accumulation, which could support ETH’s price in the coming weeks.
Conversely, a continued stall or drop in whale numbers may reflect hesitation among larger investors, potentially limiting upside momentum.
Ethereum price has traded between $1,828 resistance and $1,749 support since April 21. The range has held for over two weeks, showing market indecision.
The EMA lines remain bullish, with short-term averages still above long-term ones. However, they’re starting to converge, and a death cross could form soon.
If the $1,749 support breaks, ETH could fall to $1,689. If the downtrend intensifies, targets like $1,538 and $1,385 become relevant.
On the upside, if ETH breaks $1,873, it could rally to $1,954, and possibly hit $2,104, reclaiming the $2,000 level for the first time since March 27.
The post ETH Traders Eye Breakout as Ethereum Awaits Pectra Upgrade appeared first on BeInCrypto.
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Bitcoin price forecast remains clouded by political tension, with BTC holding above $85,000 as traders weigh Fed independence and rate direction
Bitcoin price tethered near the $85,000 zone on Thursday despite bearish sentiment across global financial markets linked to the US-China trade war. While equity markets faced sharp drawdowns, the flagship cryptocurrency remained resilient following heightened political friction between the White House and the Federal Reserve.
President Donald Trump amplified criticism of Federal Reserve Chair Jerome Powell, suggesting potential removal after Powell reaffirmed the Fed’s legal independence during a speech at the Economic Club of Chicago. Powell emphasized that the central bank’s autonomy is protected by statute, stating, “We’re not removable except for cause.”
The remarks followed a series of posts on Trump’s Truth Social account, where he labeled Powell’s policy direction “a complete mess,” accusing the Fed of missing timely opportunities to reduce interest rates despite falling inflation and commodity prices.
Trump pointed to the European Central Bank’s expected seventh rate cut as justification for immediate Fed action.
He claimed inflation was under control and called for lower rates to support economic growth.
Treasury Secretary Scott Bessent is reportedly preparing to begin interviewing candidates to potentially replace Powell later this year, adding further uncertainty to the Fed’s policy outlook.
Interest rates play a pivotal role in shaping capital flows toward risk assets like Bitcoin. Lower interest rates typically drive investors to seek higher returns in alternative markets, including crypto, making any shift in Fed policy direction a crucial signal for Bitcoin’s trajectory.
If Trump successfully pressures the Fed into cutting rates sooner than anticipated, it could reinvigorate bullish momentum in Bitcoin and the broader crypto market.
Lower borrowing costs and increased liquidity may encourage institutional and retail investors to allocate more capital into digital assets, potentially driving Bitcoin toward fresh highs above the $90,000 level.
Such a move would also align with broader global easing trends, particularly if the ECB proceeds with further cuts.
On the other hand, if the ECB slashes rates while Powell opts for another pause, the divergence could create a temporary imbalance in capital flows.
This might strengthen the US dollar in the short term, applying downward pressure on Bitcoin and other dollar-denominated assets.
In this scenario, Bitcoin could face renewed volatility and range-bound trading, particularly if macroeconomic uncertainty persists around interest rates and inflation targets.
Bitcoin price forecast shows a tentative bullish stance losing momentum as BTC consolidates below the $88,454 resistance, a level defined by the upper Donchian Channel band.
While BTC price remains above the midline near $81,456, this recent rejection signals waning bullish strength. The narrowing channel range between $88,454 and $74,458 highlights tightening market conditions, a precursor often to breakout or breakdown moves.
The MACD histogram also shows fading bullish bars, while the MACD line, although above the signal line, flattens around 551—indicating momentum is stalling rather than strengthening. Should BTC lose $81,456, a move to test the lower channel support at $74,458 is likely, with further downside to $71,000 possible if selling intensifies.
However, a decisive daily close above $88,454 with strong MACD expansion could revive the bullish trend, targeting $92,000 short term. Until then, the bias leans bearish as momentum stalls and resistance caps further gains.
The post Bitcoin Price Moves Above $85K as Donald Trump Fires at Fed Chief Jerome Powell, What’s happening ? appeared first on CoinGape.