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The Bitcoin market is at a critical moment, and next Thursday's Federal Open Market Committee (FOMC) Meeting may indicate the direction of its trend. Currently, the market is showing a sideways consolidation pattern, replacing the previous downtrend.
It is worth noting that recent "whales" holding a large amount of Bitcoin have sold approximately 80,000 coins, which has somewhat alleviated the selling pressure in the market. From a weekly perspective, the current upward trend does not seem to be over yet, and the price of Bitcoin is expected to continue rising, possibly even breaking the $130,000 mark. Currently, the weekly chart has risen for 5 consecutive weeks, and a turning point is expected to appear in another 2 to 3 weeks.
For investors, Bitcoin is likely to break through the current sideways range next week. It is recommended that investors remain vigilant and consider entering on the right side only after the price breaks upward to ensure higher safety.
Next week, there are several important economic indicators and events that need to be closely monitored:
Wednesday: The US ADP employment numbers for July will be released at 20:15.
Thursday: The Fed's FOMC will announce the interest rate decision at 02:00, followed by a press conference with Powell at 02:30. On the same day at 20:30, the number of initial jobless claims in the United States and the year-on-year Core PCE Price Index for June will be released.
Friday: Hong Kong will officially implement the "Stablecoin Regulation". In addition, the U.S. July non-farm payroll data will be released at 20:30.
These economic indicators and policy trends may have a significant impact on Bitcoin prices, and investors should stay alert and adjust their strategies in a timely manner. In a market environment filled with uncertainty, it is crucial to remain rational and cautious.