BTC Price Forecast
Bitcoin stays below $112k ahead of Powell speech. BTC is down 3% in the last 24 hours, trading at $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, sparking fresh volatility across risk assets, such as Bitcoin. Investors seek hints on a possible interest rate cut.
Market participants focus attention on the event.
Author summary: Bitcoin price drops below $112k.