Bitcoin Price Volatility Continues as Fed and BOJ Policy Decisions Loom
Bitcoin's price has been fluctuating wildly in recent days, with the cryptocurrency hitting a low of $76,046 on September 11th and then rebounding by 5.05% to reach a high of $79,890 just an hour and a half later.
This volatility was so intense that it triggered both long and short liquidations, but the bulls' momentum was eventually halted as Bitcoin consolidated between $76.5k and $77.5k over the weekend.
Despite breaching the upper boundary of this range in recent trading hours, it remains unclear whether Bitcoin will continue to fall or stage another reversal.
The upcoming week is expected to be pivotal for markets, with both the Federal Reserve and the Bank of Japan set to make policy decisions that could impact investor sentiment and lead to increased volatility for Bitcoin.
A rate hike by the Fed is seen as highly likely, with an 85% probability, while a 1.25% increase from the BOJ is also expected.