BTC Price Forecast
Bitcoin stays below $112k ahead of Powell speech. The cryptocurrency is down 3% in the last 24 hours, trading around $111,200 per coin.
- Bearish performance amid rising US-China trade conflict.
- Spot Bitcoin Exchange Traded Funds (ETFs) recorded an outflow of over $320 million on Monday.
Fed chair Jerome Powell is set to speak later today, with market participants expecting fresh volatility across risk assets, such as Bitcoin. Investors will be looking for hints on a possible interest rate cut later this month.
Market participants focusing their attention on the event, which could spark fresh volatility across risk assets.
Author's summary: Bitcoin price drops below $112k.
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