Bitcoin faces a cluster of market-moving events over the next 24 hours that could determine whether it holds above the closely watched $60,000 level. The cryptocurrency is trading near $62,172, down about 3.1% after swinging between an intraday high of $64,273 and a low of $61,794. Three catalysts arrive in quick succession: June's Consumer Price Index release at 8:30 a.m. ET Tuesday, Fed Chair Kevin Warsh's semiannual testimony before Congress at 10:00 a.m. ET, and escalating geopolitical tension surrounding the Strait of Hormuz. Inflation data and central bank commentary typically influence risk-asset sentiment, while the Hormuz conflict introduces additional uncertainty tied to energy markets and broader macro conditions. Traders are watching these overlapping events closely, as they could push Bitcoin either toward renewed strength or below key support in the hours ahead.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.