Bank of Japan interest rate hike countdown: $BTC 85000-95000 volatility range is about to be violently broken!
Recently, the market trend has been weak, with Bitcoin fluctuating repeatedly in the range of $95,000 to $85,000, lacking a clear direction.
Data shows that Bitcoin network hashrate has recently decreased by about 7%, equivalent to hundreds of thousands of mining machines ceasing operations, reflecting that the current market is indeed weak.
The main factors affecting Bitcoin's price right now are concerns about the U.S. employment and inflation data to be released this week, as well as the possibility of the Bank of Japan announcing an interest rate hike on the 19th. Retail investors are observing whether the Federal Reserve will adjust its policy due to changes in data after three consecutive rate cuts. Some prediction platforms indicate that some investors expect the Federal Reserve may cut rates twice next year to support the economy, which is more aggressive than the previous official forecast.
The general view is that if the non-farm payrolls for November released this week are significantly below the expected 50,000, it could exacerbate volatility in the financial markets. Personally, I believe that a fundamental improvement in market sentiment may require waiting for changes in the leadership of the Federal Reserve.
Regarding the current volatility pattern, I suggest retail investors reduce trading leverage or consider using strategies like grid trading to seek profits in narrow fluctuations.
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