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Critical days for Bitcoin: 5 things to know about BTC this week.

Critical days for Bitcoin: 5 things to know about BTC this week.

17.12.2024 09:41

As Bitcoin (BTC) continues to experience market volatility, a critical week awaits the entire crypto ecosystem. The Fed is expected to implement a 0.25% interest rate cut. We have compiled 5 things you need to know about Bitcoin this week.

Bitcoin investors are expecting sharp fluctuations in the markets this week. With Bitcoin attracting the attention of traditional finance and institutional investors, it started the week at all-time high levels. The BTC/USD pair on Bitstamp reached a new record of $106,533. This rise surprised many market analysts and investors, adding strong momentum to the week's closing.

Analyst Filbfilb described this week as a "big week," while other analysts pointed out that Bitcoin typically moves sideways or downward before the Federal Reserve's (Fed) interest rate decisions. However, this time, a significant rise occurred unexpectedly before the interest rate decision. A popular analyst, CrypNuevo, stated that he did not anticipate this rise and announced that over $300 million in cryptocurrency positions were liquidated.

This week, attention is focused on the Fed meeting on December 18. The market expects the Fed to cut interest rates by twenty-five basis points. Additionally, important economic indicators such as inflation data and unemployment claims will also be monitored. However, according to some analysts, the Fed's long-term strategies may become complex. The possibility of stagflation and the likelihood of interest rates being raised again in 2025 are on the agenda.

As for Bitcoin price targets, analysts are expecting a strong rise in the short term. A price level of $140,000 is seen by analysts as a "mid-target." Another popular view is that Bitcoin could reach $150,000 by January. However, among the key factors that will determine the market's direction are the Fed's decisions and the global economic outlook.

In summary, this week will be a critical period for cryptocurrency markets, especially for Bitcoin investors. Economic developments supporting Bitcoin's upward movements could further elevate both short-term and long-term price targets.



 
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