According to BlockBeats, on August 19, BRN analyst Valentin Fournier indicated that Bitcoin's volatility might increase in the coming days or weeks as the market awaits further announcements from the Federal Reserve at the Jackson Hole symposium and the release of macroeconomic indicators.
Fournier noted that open interest in Bitcoin futures has risen ahead of the Jackson Hole meeting. He added that this increase in open interest could be related to investors' expectations of potential profits if the announcements are positive.
According to Fournier, the broader financial markets are cautiously awaiting Federal Reserve Chair Jerome Powell's speech on Friday at Jackson Hole, looking for clues about potential decisions at the Fed's policy meeting next month. He added that Powell's speech might announce the Fed's first rate cut, and they still believe that Bitcoin prices could rise to between $65,000 and $67,000 before experiencing a new decline.
