Tomorrow, there are three significant upcoming events that could affect BTC's trajectory, warranting caution to guard against a potential sudden drop.
Currently, BTC is trading sideways at a high level, but the looming events this month could alter its upward trend.
The first event is the quarterly expiration of options, with a significant amount set to expire, potentially exceeding $15 billion. This influx, especially around the $50,000 mark, could induce market volatility, particularly among less experienced traders, potentially leading to a crash.
The second event is the release of PCE data tomorrow evening, where higher-than-expected figures may indicate inflationary pressures. This data could influence the Federal Reserve's interest rate decisions, subsequently impacting BTC's price and possibly pushing it below $68,000.
Lastly, Federal Reserve Chairman Powell's speech tomorrow night holds sway over market sentiment. His stance on interest rate adjustments could either bolster BTC's ascent or trigger a downturn in both US stocks and BTC. Remaining vigilant and flexible in investment strategies is essential, emphasizing risk management and staying abreast of market dynamics.
In the event of a significant crypto price decline, consider seizing the opportunity to buy at the bottom. Additionally, explore potential investments in STX, CHR, and ACH, each offering distinct opportunities for growth in the crypto sphere.
