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Bitcoin ($BTC) is attempting to recover amid the shadow of the US-Iran conflict. With $BTC trying to hold above $70,000, the coming week will be crucial for the company.
Seven major central banks will announce their interest rate decisions next week, and $BTC volatility may increase as these central banks release their decisions.
According to CoinDesk, seven major central banks, including the US Federal Reserve (FED), will announce their interest rate decisions.
This is expected to increase volatility in the Bitcoin price next week.
According to weekly data, this series begins with the Reserve Bank of Australia’s (RBA) interest rate decision on March 17, followed by the Bank of Canada (BOC) and the Federal Reserve (FED) decisions on March 18, and concludes with the Bank of Japan (BOJ), the Swiss National Bank (SNB), and the European Central Bank (ECB) decisions on March 19.
As geopolitical tensions continue to rise due to a potential US-Iran war, this is also driving up oil prices.
This situation has reignited inflation concerns and increased the likelihood of central banks raising interest rates.
Hawkish signals that may emerge next week could trigger downward volatility in risky assets, including Bitcoin.
According to analysts, this scenario seems more likely because policymakers, remembering that they were wrong in 2021-22 when they said inflation was temporary, may act much faster this time to curb rising price pressures.
Şahin stated that a hawkish stance could lead to a drop in the $BTC price, but conversely, if banks maintain a neutral or wait-and-see approach, $BTC could potentially see an increase.
Economist and Fed observer Ethan Harris stated that the decisions of the US and Japanese central banks will be particularly influential at this point and could be a significant turning point for Bitcoin.
*This is not investment advice.
coindesk.com
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