Bitcoin's price experiences significant volatility due to worsening geopolitical situations and expectations surrounding the upcoming FOMC meeting.
Escalation of the Israel-Iran Conflict
The conflict in the Middle East has intensified, causing considerable volatility in financial markets. The Israeli Defense Forces have conducted strikes on Iranian military sites, and Iran has retaliated. These developments contribute to uncertainty in the cryptocurrency market.
FOMC Jitters and Powell's Speech
The upcoming FOMC meeting is likely to see no changes in interest rates, but market participants are keenly awaiting comments from Fed Chair Jerome Powell. The increasing probability of a rate cut in the upcoming months also creates anxiety among investors.
On-Chain Data and Market Sentiment
Seasoned Bitcoin holders have started selling their assets, leading to upward pressure on the market. Meanwhile, popular analyst Willy Woo stated that the Bitcoin market has entered its late bull market phase, although he still expects potential price growth.
The situation regarding Bitcoin's price remains complex amid worsening geopolitical climates and monetary policy uncertainties. Investors continue to monitor developments closely.
