Crypto Markets Brace for Volatility Spike as BTC Continues Sideways Movement

📆 4/8/2024 11:38 AM
📰 FXStreetNews

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Crypto Markets,Volatility,BTC

The crypto markets are expected to experience increased volatility this week as Bitcoin remains stagnant. Failed attempts from both bulls and bears suggest that BTC could continue to move sideways. The US CPI could potentially trigger a temporary spike in volatility if the Federal Reserve's decision deviates from expectations. Despite sell signals on Bitcoin's weekly chart, the bears have been unable to push the price lower, which could prove costly for short sellers in the near future.

Crypto markets are likely to see a spike in volatility this week after a silent weekend. The failed attempts from bulls and bears suggest that BTC could continue to move sideways. The US CPI could induce a short-lived volatility spike if the Fed's decision veers off the expected course. Not many interesting developments occurred over the weekend, but this week could see a spike in volatility.

A major event like the US Consumer Price Index coming up on Wednesday at 12:30 GMT would have had short-term implications on Bitcoin price, but considering the recent activity, crypto markets will likely remain unaffected. Also read: US Dollar strength could be one of the reasons why Bitcoin could crash more Regardless, the CME Group FedWatch Tool shows that there is a 95.4% odds that the interest rates will remain unchanged at the current 5.25% to 5.50% range in the Fed’s May meeting.

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