BTC Price Forecast
Bitcoin stays below $112k ahead of Powell speech. The cryptocurrency is down 3% in the last 24 hours, trading around $111,200 per coin.
- Bearish performance amid rising US-China trade conflict.
- Spot Bitcoin Exchange Traded Funds (ETFs) recorded an outflow of over $320 million on Monday.
Fed chair Jerome Powell is set to speak later today, which could spark fresh volatility across risk assets, such as Bitcoin. Investors will be looking for hints on the possibility of an interest rate cut later this month.
Traders adopt a cautious sentiment to the market.
Author's summary: Bitcoin price drops below $112k.
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