Despite the pressure across global markets, Bitcoin has shown strength. But we still need confirmation.
A weekly close above $82K and the 1W 50MA would strengthen the bullish case and signal that bulls are in control.
⚠️ Here's what could drive volatility next week:
Oct 28: FOMC decision
The Fed is expected to hold rates, but watch for hints of future rate hikes.
Oct 29: U.S. PCE inflation and GDP data
Strong GDP growth with cooling inflation could pump Bitcoin and crypto, while hotter inflation could delay rate cuts and put pressure on risk assets.
Oct 30: Japan unemployment
The BOJ is expected to hold rates steady, but any surprise hike could strengthen the yen and trigger volatility across global markets, putting pressure on Crypto.
And what adds to the volatility is that all of this is happening just days before the U.S. midterm elections, and historically, Bitcoin has corrected after every midterm.
