Last week crypto was a rollercoaster, with Bitcoin dominating headlines through major volatility.
The U.S. CPI inflation cooled to 2.9%, sparking optimism, while a $1.97 billion BTC transfer by Bitgo and new BTC buys from Japan's Metaplanet and El Salvador’s $1.6 billion Bitcoin City plan added fuel to the fire.
Marathon Digital’s $250 million oversubscribed offering and Bitcoin options expiry kept traders on edge, with Bitcoin ending the week above $59K.
Looking ahead, this week is packed with anticipation as key US Federal Reserve events loom.
Fed Governor Waller starts things off on Monday, followed by speeches from Atlanta Fed President Bostic and Vice Chair Barr, with all eyes on Fed Chair Powell’s Friday speech at Jackson Hole.
Investors are eager for clues on future policy rates, with a 75% chance of a 25 bps rate cut in September.
There’s also growing optimism for a Bitcoin rally, seen as a hedge against inflation.
Will the upcoming Fed events fuel a Bitcoin rally or keep the market on edge?