{"id":624971,"date":"2024-06-17T07:30:05","date_gmt":"2024-06-17T07:30:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=624971"},"modified":"2024-06-17T07:21:03","modified_gmt":"2024-06-17T07:21:03","slug":"bitcoin-price-crucial-test-what-at-stake-this-week","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","title":{"rendered":"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week"},"content":{"rendered":"<p>As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators and events that could determine its near-term trajectory. Renowned crypto analyst Ted (@tedtalksmacro) has provided an in-depth <a href=\"https:\/\/x.com\/tedtalksmacro\/status\/31926005\" target=\"_blank\" rel=\"noopener nofollow\">analysis<\/a>, highlighting the critical factors at play.<\/p>\n<h2>Weekly Bitcoin Preview<\/h2>\n<p>Ted&#8217;s analysis begins by contextualizing the broader macroeconomic environment. Last week&#8217;s US Consumer Price Index (CPI) and Producer Price Index (PPI) data were optimistic for risk assets, highlighting a continued disinflationary trend. &#8220;Both CPI and PPI data were optimistic for risk assets, with each showing that the disinflationary trend remains,&#8221; Ted noted. However, he cautioned that the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rejects-70k-2\/\" target=\"_blank\" rel=\"noopener \">Federal Reserve&#8217;s communication<\/a> suggested that the market should not be overly enthusiastic about imminent rate cuts.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-crashes-to-65000-expert-unpacks-drivers-of-crypto-market-bloodbath\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Crashes To $65,000, Expert Unpacks Drivers Of Crypto Market Bloodbath<\/a><\/div>\n<p>The focal point for this week is the Federal Open Market Committee (FOMC) meeting and its revised dot plot. In March, the dot plot indicated potential rate cuts of 2-3 times in 2024. However, the June dot plot revision suggests a more conservative outlook, indicating only 1-2 cuts. Ted explained, &#8220;The March dot plot indicated cutting rates 2-3 times in 2024, but June&#8217;s dot plot suggests only 1-2 cuts should be expected.&#8221;<\/p>\n<p>This alignment between the Fed&#8217;s projections and market expectations likely provides the central bank with greater flexibility in future communications about interest rates. For Bitcoin, maintaining the $66,000 support level is crucial.<\/p>\n<p>Ted emphasized the importance of this threshold, stating, &#8220;It&#8217;s critical that Bitcoin maintains its support at $66,000. If broken, sellers could take a stronghold on the market and force quick liquidations out of the <a href=\"https:\/\/ktsl888.com\/news\/biggest-bitcoin-bull-run-ever-analyst\/\" target=\"_blank\" rel=\"noopener \">bulls<\/a>.&#8221; This support level is seen as a critical threshold, with potential implications for broader market sentiment.<\/p>\n<p>The implied weekly ranges for Bitcoin and Ethereum reflect the cautious optimism among traders. Bitcoin is expected to trade between $65,100 and $74,100, while Ethereum is projected to fluctuate between $3,388 and $4,025. Ted highlighted, &#8220;This week is crucial for maintaining BTC&#8217;s (and by extension, the broader crypto market&#8217;s) short-term trend.&#8221;<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/alliancebernstein-bitcoin-prediction-1-million-heres-when\/\" target=\"_blank\" rel=\"noopener \">Financial Giant AllianceBernstein Predicts Bitcoin At $1 Million, Here\u2019s When<\/a><\/div>\n<p>Ted also pointed out the performance of US tech stocks, particularly the NASDAQ, which has recently hit new all-time highs. &#8220;US tech stocks are certainly feeling the disinflationary vibes, with the NASDAQ breaking out to new all-time highs in anticipation of easier central bank policy to come,&#8221; he noted. This disconnect shows that something could be cooking for Bitcoin.<\/p>\n<p>Ethereum&#8217;s performance relative to Bitcoin is another area of focus. Ted suggested that Ethereum could begin to &#8220;play catch up versus Bitcoin,&#8221; particularly with the anticipated <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/spot-ethereum-etfs-10000\/\" target=\"_blank\" rel=\"noopener \">launch of spot Ethereum ETFs<\/a> on Wall Street. This potential for Ethereum to close the performance gap with Bitcoin is an important dynamic to monitor in the coming days.<\/p>\n<p>Additionally, rate decisions from the Swiss National Bank (SNB) and the Reserve Bank of Australia (RBA) are on the radar. While no rate cuts are expected from these central banks, their decisions will be scrutinized for any indications of future monetary policy shifts. Ted mentioned, &#8220;It&#8217;s not expected that the Australian or Swiss Central Banks cut rates at this week&#8217;s meeting, but rather remain on hold.&#8221;<\/p>\n<p>ETF flows, which <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-etfs-witness-18-straight-days-of-inflows-options-traders-eye-100000\/\" target=\"_blank\" rel=\"noopener \">slowed last week<\/a> due to market jitters ahead of key macro events, are also expected to play a critical role. Ted noted, &#8220;Last week saw slowing ETF flows on Wall Street for Bitcoin. Likely owed to jitters ahead of key macro events, it will be key for BTC strength that flows return in the week ahead.&#8221; Strong ETF flows are essential for maintaining liquidity and supporting Bitcoin&#8217;s price.<\/p>\n<p>In conclusion, this week is set to be pivotal for Bitcoin and the broader crypto market. The interplay of disinflation trends, Federal Reserve communications, key support levels, and external economic factors will shape the market&#8217;s direction. Ted concluded, &#8220;The data is clearly pointing towards a shift to more accommodative monetary policy\u2014and potentially sooner rather than later. This reinforces my view that dips are buying opportunities for risk assets like cryptocurrencies and stocks.&#8221;<\/p>\n<p>At press time, BTC traded at $65,965.<\/p>\n<figure id=\"attachment_624978\" aria-describedby=\"caption-attachment-624978\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-624978 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?resize=3628%2C1675\" alt=\"Bitcoin price\" width=\"3628\" height=\"1675\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=3628 3628w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=1140 1140w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-17_09-14-48.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-624978\" class=\"wp-caption-text\">Bitcoin falls below $66,000, 1-day chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/NLiYa5Qh\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators and events that could determine its near-term trajectory. Renowned crypto analyst Ted (@tedtalksmacro) has provided an in-depth analysis, highlighting the critical factors at play. Weekly Bitcoin Preview Ted&#8217;s analysis begins by contextualizing the broader macroeconomic environment. Last week&#8217;s US Consumer Price Index (CPI) and Producer Price Index (PPI) data were optimistic for risk assets, highlighting a continued disinflationary trend. &#8220;Both CPI and PPI data were optimistic for risk assets, with each showing that the disinflationary trend remains,&#8221; Ted noted. However, he cautioned that the Federal Reserve&#8217;s communication suggested that the market should not be overly enthusiastic about imminent rate cuts. Related Reading: Bitcoin Crashes To $65,000, Expert Unpacks Drivers Of Crypto Market Bloodbath The focal point for this week is the Federal Open Market Committee (FOMC) meeting and its revised dot plot. In March, the dot plot indicated potential rate cuts of 2-3 times in 2024. However, the June dot plot revision suggests a more conservative outlook, indicating only 1-2 cuts. Ted explained, &#8220;The March dot plot indicated cutting rates 2-3 times in 2024, but June&#8217;s dot plot suggests only 1-2 cuts should be expected.&#8221; This alignment between the Fed&#8217;s projections and market expectations likely provides the central bank with greater flexibility in future communications about interest rates. For Bitcoin, maintaining the $66,000 support level is crucial. Ted emphasized the importance of this threshold, stating, &#8220;It&#8217;s critical that Bitcoin maintains its support at $66,000. If broken, sellers could take a stronghold on the market and force quick liquidations out of the bulls.&#8221; This support level is seen as a critical threshold, with potential implications for broader market sentiment. The implied weekly ranges for Bitcoin and Ethereum reflect the cautious optimism among traders. Bitcoin is expected to trade between $65,100 and $74,100, while Ethereum is projected to fluctuate between $3,388 and $4,025. Ted highlighted, &#8220;This week is crucial for maintaining BTC&#8217;s (and by extension, the broader crypto market&#8217;s) short-term trend.&#8221; Related Reading: Financial Giant AllianceBernstein Predicts Bitcoin At $1 Million, Here\u2019s When Ted also pointed out the performance of US tech stocks, particularly the NASDAQ, which has recently hit new all-time highs. &#8220;US tech stocks are certainly feeling the disinflationary vibes, with the NASDAQ breaking out to new all-time highs in anticipation of easier central bank policy to come,&#8221; he noted. This disconnect shows that something could be cooking for Bitcoin. Ethereum&#8217;s performance relative to Bitcoin is another area of focus. Ted suggested that Ethereum could begin to &#8220;play catch up versus Bitcoin,&#8221; particularly with the anticipated launch of spot Ethereum ETFs on Wall Street. This potential for Ethereum to close the performance gap with Bitcoin is an important dynamic to monitor in the coming days. Additionally, rate decisions from the Swiss National Bank (SNB) and the Reserve Bank of Australia (RBA) are on the radar. While no rate cuts are expected from these central banks, their decisions will be scrutinized for any indications of future monetary policy shifts. Ted mentioned, &#8220;It&#8217;s not expected that the Australian or Swiss Central Banks cut rates at this week&#8217;s meeting, but rather remain on hold.&#8221; ETF flows, which slowed last week due to market jitters ahead of key macro events, are also expected to play a critical role. Ted noted, &#8220;Last week saw slowing ETF flows on Wall Street for Bitcoin. Likely owed to jitters ahead of key macro events, it will be key for BTC strength that flows return in the week ahead.&#8221; Strong ETF flows are essential for maintaining liquidity and supporting Bitcoin&#8217;s price. In conclusion, this week is set to be pivotal for Bitcoin and the broader crypto market. The interplay of disinflation trends, Federal Reserve communications, key support levels, and external economic factors will shape the market&#8217;s direction. Ted concluded, &#8220;The data is clearly pointing towards a shift to more accommodative monetary policy\u2014and potentially sooner rather than later. This reinforces my view that dips are buying opportunities for risk assets like cryptocurrencies and stocks.&#8221; At press time, BTC traded at $65,965. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":624972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,92593,1119,1122],"class_list":["post-624971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-weekly-preview","tag-btc","tag-btc-price"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Faces Crucial Test: Here&#039;s What At Stake This Week<\/title>\n<meta name=\"description\" content=\"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Faces Crucial Test: Here&#039;s What At Stake This Week\" \/>\n<meta property=\"og:description\" content=\"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-17T07:30:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-17T07:21:03+00:00\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week\",\"datePublished\":\"2024-06-17T07:30:05+00:00\",\"dateModified\":\"2024-06-17T07:21:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\"},\"wordCount\":718,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\",\"keywords\":[\"bitcoin\",\"Bitcoin news\",\"bitcoin price\",\"Bitcoin Weekly Preview\",\"btc\",\"btc price\"],\"articleSection\":[\"Bitcoin\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\",\"url\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\",\"name\":\"Bitcoin Price Faces Crucial Test: Here's What At Stake This Week\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\",\"datePublished\":\"2024-06-17T07:30:05+00:00\",\"dateModified\":\"2024-06-17T07:21:03+00:00\",\"description\":\"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.\",\"breadcrumb\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\",\"width\":1792,\"height\":1024,\"caption\":\"Bitcoin this week ahead\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ktsl888.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ktsl888.com\/#website\",\"url\":\"https:\/\/ktsl888.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ktsl888.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ktsl888.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/ktsl888.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/ktsl888.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Price Faces Crucial Test: Here's What At Stake This Week","description":"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Price Faces Crucial Test: Here's What At Stake This Week","og_description":"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.","og_url":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-06-17T07:30:05+00:00","article_modified_time":"2024-06-17T07:21:03+00:00","author":"Jake Simmons","twitter_card":"summary_large_image","twitter_image":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#article","isPartOf":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week","datePublished":"2024-06-17T07:30:05+00:00","dateModified":"2024-06-17T07:21:03+00:00","mainEntityOfPage":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/"},"wordCount":718,"publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"image":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","keywords":["bitcoin","Bitcoin news","bitcoin price","Bitcoin Weekly Preview","btc","btc price"],"articleSection":["Bitcoin"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/ktsl888.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","url":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","name":"Bitcoin Price Faces Crucial Test: Here's What At Stake This Week","isPartOf":{"@id":"https:\/\/ktsl888.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage"},"image":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","datePublished":"2024-06-17T07:30:05+00:00","dateModified":"2024-06-17T07:21:03+00:00","description":"As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators that could determine its trajectory.","breadcrumb":{"@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#primaryimage","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","width":1792,"height":1024,"caption":"Bitcoin this week ahead"},{"@type":"BreadcrumbList","@id":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ktsl888.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week"}]},{"@type":"WebSite","@id":"https:\/\/ktsl888.com\/#website","url":"https:\/\/ktsl888.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ktsl888.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ktsl888.com\/#organization","name":"NewsBTC","url":"https:\/\/ktsl888.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crucial-test-what-at-stake-this-week\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","bitcoin weekly preview","btc","btc price"],"dateCreated":"2024-06-17T07:30:05Z","datePublished":"2024-06-17T07:30:05Z","dateModified":"2024-06-17T07:30:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Faces Crucial Test: Here&#8217;s What At Stake This Week\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-price-crucial-test-what-at-stake-this-week\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-price-crucial-test-what-at-stake-this-week\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin weekly preview\",\"btc\",\"btc price\"],\"dateCreated\":\"2024-06-17T07:30:05Z\",\"datePublished\":\"2024-06-17T07:30:05Z\",\"dateModified\":\"2024-06-17T07:30:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-17-08.37.38-A-wide-format-image-showcasing-a-prominent-Bitcoin-at-the-center-surrounded-by-dynamic-and-futuristic-financial-graphics.-The-background-features-a-b.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/624971"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=624971"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/624971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/624972"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=624971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=624971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=624971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}