Bitcoin's price has remained largely stable over the weekend after a volatile week, but it is now under pressure as traders and investors anticipate the testimony of Federal Reserve Chair Jerome Powell at the U.S. Senate hearing on Tuesday. Market participants will scrutinize Powell's speech for any indications of a change in his views on inflation or policy tightening procedures, which could lead to a complete crash in the crypto market. While there are market-wide speculations on a potential 50bps rate hike, which would be significantly higher than the last hike of 25bps, trading data suggests that holding a long position in Bitcoin would be a wise move in case of a market dip. BTC's technical analysis indicators currently recommend a "Neutral" position, and the cryptocurrency is trading at $22,452.
What awaits the cryptocurrency "Bitcoin" after its price has stabilized? Will the Fed Chairman's remarks lead to a market crash tomorrow?"
Bitcoin's price has remained largely stable over the weekend after a volatile week, but it is now under pressure as traders and investors anticipate the testimo
