Bitcoin traders expect Fed Chair Powell to ‘pump our bags’ and BTC to target $80K+
Historical Bitcoin performance data and investors’ expectation that the Fed will “pump our bags” have traders anticipating a strong BTC price rebound.
Bitcoin (BTC) price rose 3% on May 13 as crypto traders anticipated price volatility ahead of this week’s U.S. macroeconomic data update.
Data from Cointelegraph Markets Pro and TradingView showed intraday BTC price high of $63,269 on Coinbase shortly after the Wall Street open on May 13.
This week, market participants await the United States inflation data to help determine whether the Federal Reserve will lower interest rates in 2024.
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Author: Nancy Lubale
