As Bitcoin (BTC) struggles to break above $100,000, traders are eyeing key events this week that could shake up the market and drive volatility.
FTX Payouts Begin
Collapsed crypto exchange FTX is set to begin its first round of creditor repayments, with Convenience Class creditors (claims under $50,000) receiving full repayment plus 9% annual interest.
While some expect recipients to reinvest in crypto, Markus Thielen, founder of 10x Research, believes the $1.2 billion payout is “too small to move the needle.” He estimates that only $3 billion of the $10.5 billion allocated to larger creditors may actually return to the crypto market.
Others, like Coinstash co-founder Mena Theodorou, expect a portion of the funds to flow into Solana (SOL), given FTX’s deep ties to the Solana ecosystem, which has surged 500% over the past year.
Trump-Musk Interview Could Spark Volatility
On February 19, Donald Trump and Elon Musk will sit down for an interview with Fox News host Sean Hannity. The discussion could cover crypto policy, regulations, and institutional adoption, potentially impacting market sentiment.
“Trump’s increasing alignment with crypto and Musk’s deep ties to the space could drive market volatility,” said Theodorou.
Recently, Trump’s team hinted at exploring a strategic BTC reserve, though without immediate action, disappointing some crypto bulls.
FOMC Minutes & Interest Rate Outlook
On February 21, the Federal Reserve will release minutes from its January meeting, where it kept interest rates unchanged. Given recent hotter-than-expected inflation data (CPI & PPI), traders will closely analyze the minutes for hints on future rate decisions.
A hawkish stance could pressure risk assets, including crypto, while signs of a potential rate cut might fuel a relief rally.
Consensus Hong Kong: Global Crypto Trends
Kicking off on February 20, Consensus Hong Kong, a three-day global crypto conference, will host over 270 speakers and thousands of attendees from 90+ countries.
The event will provide insights into blockchain technology, Web3 adoption, and digital asset investments in Asia, potentially influencing market sentiment and price action.
With these major events on the horizon, Bitcoin’s stagnant price action may soon shift as traders react to new developments in the regulatory, macroeconomic, and institutional landscape.
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