Is the Bitcoin ETF Launch Triggering Volatility Amidst Incoming U.S. Inflation Data? 🚨
#Bitcoin 's price is set for potential shifts due to imminent events, notably the United States' decision on its first spot Bitcoin ETF by January 10.
Traders anticipate a
#breakout from the recent price range, indicated by tightening Bollinger Bands. While some foresee a temporary setback for bullish trends, others anticipate a surge to challenge psychological levels.
Additionally, concerns persist over the "spot premium" and the accumulation of positions with stop losses around the current price area.
Simultaneously, forthcoming U.S. inflation data, including the Consumer Price Index (
#CPI ) and Producer Price Index (PPI) for December, could impact market volatility.
Despite the potential effects of these macroeconomic factors, expectations for the Federal Reserve to shift interest rate policy at their upcoming meeting remain low.
#Binance #crypto2024