Bitcoin Calm Before the Storm: Analyst Predicts Volatile Week Ahead!

Summary of the Article

  • The majority of tokens remained flat during the past weekend, exhibiting less price variation.
  • This drop in volatility suggests that prices may undergo massive price action as bulls await the right opportunity to enter.
  • Upcoming week is expected to have a big impact on the U.S. dollar, gold and DXY, as well as on the crypto space.

Overview of Crypto Market During Weekend

The majority of tokens failed to generate curiosity among market participants as their prices remained unchanged after recent drop. Bitcoin price has become highly dependent on external factors and its rise affects entire crypto space. The traders are waiting for right opportunity to jump in rather than being uncertain about their future prospects.

Important Events Expected This Week

Popular analyst Michael van de Poppe lists following events for U.S. dollar and yields which may have big impact on crypto space: Consumer Confidence & Job openings on Tuesday; ADP Non-Farm Employment Change & Prelim GDP on Wednesday; Core PCE (Key for FOMC) and Unemployment claims on Thursday; Unemployment Rate & PMI on Friday . If these events come out positive then it could push DXY higher resulting into ‘higher for longer interest rate policy’ expectations.

Impact of Upcoming Events

These events will have an effect not only on the cryptocurrency markets but also macroeconomic landscape and Gold & DXY may witness big move in markets if these result in positive sentiment. Lower unemployment rate, higher PCE, confidence & PMI will help push DXY higher leading to ‘higher for longer interest rate policy’ expectation from investors side.