Bitcoin Prices May Be Affected By Upcoming Events

According to BlockBeats, investors are closely monitoring the upcoming events that could significantly impact Bitcoin and cryptocurrency prices. On January 20, the inauguration of Donald Trump is anticipated to be a potential catalyst for market movements. Additionally, on January 24, the Bank of Japan is expected to raise interest rates, with a 90% probability according to a chart shared by analyst Michael Kramer on the X platform. Previous interest rate hikes by the Bank of Japan have caused disruptions in both traditional and digital asset markets. Notably, in early August, a reversal in yen carry trades led to a sharp decline in Bitcoin prices, dropping to $49,000. Traders are likely preparing for another potential sell-off in response to the anticipated rate hike.