Next Week Bitcoin and O 14 Altcoins to Watch! Here's What Will Happen

The cryptocurrency market experienced a positive momentum last week, as evidenced by the increase in prices of major cryptocurrencies such as Bitcoin, Ethereum, Solana, XRP, and others. Meanwhile, the rally came after developments in the broader financial market, not just the crypto sector. However, some market observers are predicting whether the positive momentum will continue throughout this week. Various developments can shape the performance of the crypto market this week. Here, we discuss some of the prominent reasons that could further fuel the rally in the coming days.

Pay attention to Bitcoin ETF inflows and "cooling" of inflation data.

The Spot Bitcoin ETF in the US received significant attention last week with inflows approaching approximately $950 million. The substantial inflow experienced last week has boosted investor confidence, particularly after a cooling in fund flows over the past few weeks. Considering that Spot Bitcoin ETFs continue to witness such inflows, market participants are expected to shift their focus more towards the cryptocurrency asset class, potentially leading to further price increases.

In the meantime, as we reported at Kriptokoin.com, the US Consumer Price Index (CPI) data for last week showed that inflation cooled down in April and boosted market confidence. So far, the cryptocurrency market and the broader financial sector have witnessed increased fluctuations due to inflation concerns. However, the latest US CPI inflation data has eased market participants to some extent. In addition, the price of Bitcoin also started to rise after investors relied on the Fed's dovish stance in the coming days following the US Labor market data.

Investors, on the other hand, will closely follow the upcoming minutes of the Fed's May meeting to gather more information about the potential move of the Fed. Specifically, the minutes of the Fed's recent meeting will be published on Wednesday, May 22nd.

### Fed official's speeches and economic data

The cryptocurrency market will also closely follow the Fed speeches next week. Fed Vice Chairman for Supervision Michael Barr and Fed Vice Chairman Philip Jefferson will speak on Monday, May 20. Following this, Fed Governor Christopher Waller and other officials such as Cleveland Fed President Loretta Mester, Atlanta Fed President, and Boston Fed President will speak on Tuesday. In addition, the Consumer Confidence data for May, which will provide more information about the current economic situation, is expected to be announced next week.

Ethereum ETF final date and Ripple case

"Ethereum has gained significant attention recently with the approaching deadline for the Spot Ethereum ETF next week. While many analysts are betting on a potential drop from the SEC, any other move could lead to a strong rise in the crypto market. Meanwhile, market observers who compare Bitcoin's strong performance after the approval of the US Spot Bitcoin ETF by the SEC are expecting the same scenario after the approval of the Ether ETF. However, according to Polymarket, the probability of approval for the Ethereum ETF by May 31 is currently only 11%."

Ripple CFO Jonathan Bilich's recent statement supporting the sealing request of documents related to XRP discounts provided to institutional buyers has intensified the Ripple case. This action aims to protect the confidentiality of sensitive financial information. Meanwhile, this development has emerged during a phase of Ripple's ongoing legal battle with the SEC. Bilich's statement highlights Ripple's efforts to protect private data and strategic decisions. Considering that the deadline for parties and third parties to submit letter briefings against collective letter motions is approaching on May 20th, the outcome of this motion may have implications on the XRP price.

NVIDIA and artificial intelligence coins

Technology market and the crypto world are eagerly awaiting NVIDIA's earnings scheduled for May 22nd after market close. In particular, the global leader in artificial intelligence chip manufacturing is expected to report a strong revenue increase in the first quarter, which could boost investor optimism. Meanwhile, historical data shows that any major advancements in the field of artificial intelligence tend to increase the prices of AI coins. If NVIDIA reports strong earnings, it could trigger a rally in AI coins. The largest AI coins currently are as follows:

{"sl":"Turkish","text":" ","tl":"English"}### What's next for Bitcoin and altcoins?

The cryptocurrency market is eagerly awaiting any developments in SEC's SAB 121. The U.S. Senate's approval of the Congressional Review Act (CRA), aiming to review SEC Staff Accounting Bulletin No. 121 (SAB 121) by a supermajority vote of 60 to 38, marks a bipartisan milestone in cryptocurrency legislation on May 16. Despite the veto threat supported by the White House, the vote signifies a significant change in cryptocurrency regulation.

The fate of the potential veto remains uncertain due to the support of the Democrats and the crypto-friendly sentiments of presidential candidate Donald Trump. In terms of context, historical data shows that veto threats do not always materialize and leave room for speculation about the outcome of the final decision. Meanwhile, investors are cautiously preparing for the upcoming week by closely monitoring macroeconomic changes and market dynamics that could impact the crypto market. By closely following potential developments, they are predicting how these factors could influence the direction of the crypto market in the coming days.

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