Bitcoin Awaits Key U.S. Economic Data Amid Market Sensitivity

Bitcoin is nearing a pivotal week as it hovers around $68,600, with the market anticipating four significant U.S. economic reports. According to NS3.AI, these include the January FOMC minutes, initial jobless claims, the Q4 GDP revision, and December PCE inflation data. The likelihood of a Federal Reserve rate cut in March is considered low, making Bitcoin particularly reactive to any unexpected outcomes in these reports. Such data could either propel Bitcoin above $70,000 or trigger a correction towards the $60,000 range. Each release is expected to impact investor sentiment regarding inflation, economic growth, and monetary policy, factors that have historically influenced short-term Bitcoin volatility.