Bitcoin's Price Whipsaw: What to Expect Ahead of Crucial Market Events

Bitcoin's price briefly topped $79,000 before pulling back in a volatile week that saw significant liquidations and market swings. According to Coinglass data, 99,064 traders were liquidated in the past 24 hours for $723.34 million.

The market is awaiting key events next week: the interest rate decision and the CLARITY Act vote. In the meantime, some analysts are cautioning against a potential 'Classic Weekend Sweep', where prices may briefly dip before rebounding higher.

Trader Michaël van de Poppe expects Bitcoin to briefly sweep below recent lows over the weekend before reversing higher and retesting the range highs. On the other hand, Trader Killa XBT believes that fresh liquidity above is needed, requiring a roughly 1.2% move higher.