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The post Major Crypto Events in March That Could Influence Bitcoin and Altcoin Price appeared first on Coinpedia Fintech News
Despite Bitcoin achieving an all-time high, the crypto community braces for a dynamic landscape with events ranging from economic data releases to crucial legal battles and technological upgrades.
Let’s delve into the major events scheduled for March, shaping the trajectory of cryptocurrencies.
March Cryptocurrency Industry Calendar: A Snapshot of Key Events
- Federal Reserve’s BTFP Expiration (3-12)
The expiration of the Federal Reserve’s BTFP (Bank Term Funding Program) on March 12 looms as a critical event. As a liquidity program implemented during the pandemic, its conclusion could impact market liquidity and potentially influence cryptocurrency prices.
- U.S. February CPI Data Release (3-12)
On the same day, the United States is set to release the Consumer Price Index (CPI) data for February. Cryptocurrency markets often react to economic indicators, and any surprises in the CPI data may prompt market adjustments.
In February, Bitcoin crashed after the CPI data release, with Bitcoin briefly touching $48,372.89. The CPI, a key economic indicator, revealed a more substantial increase than anticipated by Dow Jones surveyed economists. In response, yields, particularly the benchmark 10-year U.S. Treasury yield, surged over 10 basis points, creating headwinds for risk assets, including Bitcoin.
- ETH Dencun Upgrade (3-13)
March 13 brings the Ethereum network’s much-anticipated Dencun upgrade. As the Ethereum community looks forward to improvements in scalability and efficiency, the upgrade has the potential to impact the price and overall sentiment in the crypto market.
- FTX Digital’s Creditor Meeting (3-15)
FTX Digital’s first meeting with both customer and non-customer creditors on March 15 will be closely watched. The outcomes of discussions may have implications for the broader crypto industry, affecting investor confidence and market stability.
- NVIDIA Annual GPU Technology Conference (3-18)
The NVIDIA Annual GPU Technology Conference on March 18 is a key event for the technology sector. As NVIDIA unveils advancements in GPU technology, the crypto community will be attentive to any potential applications in blockchain and cryptocurrency mining.
- Federal Reserve’s Interest Rate Decision (3-20)
The Federal Reserve’s interest rate decision on March 20 is a crucial event for traditional markets, and its repercussions often reverberate into the cryptocurrency space. Traders will monitor any shifts in monetary policy that could impact asset valuations.
- U.S. SEC vs. Ripple: Opening Brief Submission (3-22)
On March 22, the U.S. Securities and Exchange Commission (SEC) is scheduled to submit its opening brief in the lawsuit against Ripple Labs. This legal battle has far-reaching implications for the regulatory landscape of cryptocurrencies and could significantly influence market sentiment.
- U.S. SEC’s Fraud Charges Trial against Do Kwon (3-25)
March 25 marks the beginning of the trial for the U.S. SEC’s fraud charges against Do Kwon. The outcome of this trial will be closely monitored, as it adds another layer to the evolving regulatory environment for cryptocurrencies.
- Sam Bankman-Fried Sentencing Date (3-28)
The sentencing date for Sam Bankman-Fried on March 28 holds importance within the crypto community. As the founder of FTX faces sentencing, the repercussions may extend beyond FTX, impacting broader perceptions of regulatory compliance in the crypto industry.
In Conclusion …
As Bitcoin celebrates its all-time high, the crypto market braces for a March filled with diverse events that promise to shape its trajectory. From economic data releases to legal proceedings and technological upgrades, each event has the potential to introduce volatility and influence investor sentiment.
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