Bitcoin Price Eyes $38,000 as Key Events Shape Crypto Market

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Bitcoin’s price is on the rise, with the market anticipating a Bitcoin spot ETF and the upcoming halving in mid-April. There is bullish sentiment in the market, especially on the spot market, which is important for sustainable price movements. The price could potentially surge to $42,000 if the key resistance at $38,000 is broken. The US Bureau of Economic Analysis is set to release the Personal Consumption Expenditures Price Index, which is a favored measure of inflation by the US Federal Reserve. Declining inflation could have a positive impact on financial markets, including Bitcoin and crypto. Federal Reserve Chairman Jerome Powell is set to deliver a speech, where he may address the challenges of high inflation rates and the Fed’s commitment to combating inflation. The market will be listening closely to his remarks. Chainlink’s Staking v0.2 update will commence, which could positively influence LINK’s market dynamics. There is a potential hard fork in Cosmos’ blockchain, driven by founder Jae Kwon’s call for a split. This could significantly impact the ATOM token and may resolve internal conflicts within the community. There will be two major token unlocks this week, with DYDX and SUI tokens becoming available. Overall, these events have the potential to shape the Bitcoin and crypto market in the coming weeks.

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