4 Bitcoin Catalysts That Could Ignite a Bull Run This Week

4 Bitcoin Catalysts That Could Ignite a Bull Run This Week

Bitcoin (BTC) is poised for a major week, with several key events on the horizon that could shape the crypto market. Here are four points to watch closely: 1. German selling pressure takes a breather: German investors, who have been major sellers of Bitcoin in recent months, may be taking a break from selling, which could provide some relief to the market. 2. Powell says inflation easing, CME FedWatch tool gives 94.3% probability of a September rate cut: Federal Reserve Chair Jerome Powell's comments on inflation and the CME FedWatch tool's high probability of a rate cut in September are positive signs for Bitcoin, as they suggest that the central bank may be pivoting to a more dovish stance. 3. Bitcoin hash rate climbs to new all-time high: The Bitcoin hash rate, a measure of the network's computational power, has reached a new all-time high, indicating that miners are bullish on the long-term prospects of Bitcoin. 4. Multiple analysts predict BTC will break key resistance in August 2023, new all-time highs in July: Several analysts are predicting that Bitcoin will break through key resistance levels in August 2023 and reach new all-time highs in July. These predictions are based on technical analysis and fundamental factors. Overall, the outlook for Bitcoin is positive in the short and medium term. The upcoming events could provide the catalyst for a major bull run.