Bitcoin recovered to the $64,000 range, but ended trading below its 200-week moving average on a weekly basis. The Fed minutes, developments at the Bank of Japan, spot ETF flows and exchange transfers by large holders will be in focus this week.
Bitcoin recovered to the $64,000 range but ended the week below its 200-week moving average. Caution over the sustainability of the long-term trend is mounting.
This week's key factors include the release of the minutes from the Fed's July meeting, the Bank of Japan's interest-rate policy, spot ETF flows and exchange transfers by large holders.
Market participants believe the break below the long-term trend on a weekly basis will determine Bitcoin's future direction, and volatility could rise again depending on comments from Powell and others and the BOJ's policy stance. Whether spot ETF flows recover will also be a focus.