"I don't know if it's true or not the price of BTC will fluctuate rapidly, I'm afraid it will be bland later."
The price of the king of cryptocurrency Bitcoin (BTC) which is currently below $26,500 after plunging up to $26,000 is expected to see further decline following important financial events this week.
It is reported that the release of United States (US) consumer confidence data and new home sales data will be scheduled for today while the Gross Domestic Product (GDP) data will be released on September 28, 2023.
On the same day, home sales data will also be released followed by Federal Reserve (Fed) Chairman Jerome Powell's speech, then PCE inflation data for August 2023 will be published on Friday this week.
There is no denying that last week's macroeconomic events did not affect the crypto market, but it is worth noting that this week's announcements could push the price of BTC along with other digital assets to see significant volatility movements.
According to some analysts, the annual figure is expected to fall from 4.2% to 3.9% and Powell's speech will be closely analyzed to determine how economic policy may play out in the future.
If the reading is positive, the crypto market including BTC has the potential to go up but the situation can turn the other way around if the reading is found to be negative.
As of this writing, BTC price has declined by 0.14% to $26,262 in the last 24 hours with a market cap of $512 billion and has recorded a 1.72% decline over the past week.
While the second largest crypto Ethereum (ETH) is up 0.24% at the level of $1,587 in the last 24 hours, but still recorded a decrease of 2.77% in the last seven days and Ripple (XRP) reached $0.33 at $0.50.
