BTC Price Forecast
Bitcoin stays below $112k ahead of Powell speech. BTC is down 3% in the last 24 hours, trading around $111,200 per coin.
The bearish performance is due to the rising US-China trade conflict and an outflow of over $320 million from spot Bitcoin Exchange Traded Funds (ETFs) on Monday.
Fed chair Jerome Powell is set to speak, which could spark fresh volatility across risk assets, such as Bitcoin. Investors are looking for hints on a possible interest rate cut.
Author's summary: Bitcoin price drops below $112k.