Bitcoin continued to fluctuate between $62,000 and $64,000 over the weekend, with no significant volatility. What other important economic events this week could bring about fluctuations?
(Bitcoin’s spot ETF frenzy subsides? Net inflows are no longer the norm, occasionally negative, how do Bloomberg analysts view it?)
Bitcoin fluctuated between $62,000 and $64,000 over the weekend, reaching a high of $64,380 on Sunday morning around 11 o’clock. However, BTC experienced a larger drop in the early morning of the 29th, reaching a low of $62,775.
At the time of writing, BTC was reported at $63,249, with a 0.54% decrease in the past 24 hours.
BTC Price Trend | Source: OKX
Ethereum falls below $3,300
Ethereum’s volatility has been more intense, with a high of $3,367 earlier, followed by a continuous decline and a low of $3,253. At the time of writing, it was reported at $3,278, with a 0.93% increase in the past 24 hours.
ETH Price Trend | Source: OKX
CoinMarkeCap data shows that most of the other top ten tokens have also declined in the past 24 hours, except for BNB and TON, which have maintained a 0.49% and 0.59% increase, respectively. Other tokens such as DOGE, SOL, ADA, etc., have experienced a decline of 1-2%.
What volatility risks should be noted this week?
The most important focus this week is that the Federal Reserve will announce its interest rate decision for May at 02:00 on Thursday Taipei time. Due to the current high and persistent inflation and strong economy, the market still expects the Fed to maintain interest rates unchanged. However, all investors’ attention will be focused on Fed Chair Powell’s statement after the meeting, in search of any signals regarding interest rate cuts this year.
In addition, the non-farm employment data used to judge the US economic conditions, as well as the financial reports of tech giants Apple and Amazon, will also be released later this week. Contrary to the optimism surrounding other tech giants, Apple faces a more pessimistic outlook. Analysts have lowered their forecasts, expecting a decline in revenue and profits for the second quarter. The stock price’s volatility under such circumstances is worth further observation.
On the other hand, the preliminary data for the EU’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) for the first quarter are also expected to be released this week, which may have an impact on whether the European Central Bank will cut interest rates in June.
Related Reports
Which Bitcoin Layer 2 projects are worth paying attention to ahead of the halving?
“Bitcoin Man” Argentine president’s image undergoes a major reversal! Forced regulation of domestic exchanges faces criticism
Bitcoin’s sharp decline ahead of the halving, what lies ahead? 9 indicators to help you determine the turning point.