Bitcoin is currently rising high slowly and steadily, trying to nullify the bearish influence brick by brick. Despite the bears continuing with their aggression, the price appears to be self-assured of maintaining an upward trajectory until the weekend. Besides, the volume also maintains decent levels due to which, the BTC price continues to maintain its strength.
However, the coming week is expected to create major volatility as there could be heavy events, which have resulted in the heavy fall in the recent days.
Despite manifesting enough strength, the BTC price still appears to be fenced in within the FTX fiasco. Therefore, the star crypto is unable to make any larger moves in either of the directions which is expected to change depending on the upcoming events, this week.
The United States Consumer Price Index (CPI) report is set to make violent changes within the crypto space, along with the price of bitcoin, regardless of the direction. The report is scheduled to be released on December 13, 2022, and the FOMC is scheduled to meet on December 14 to discuss possible interest rates.
These outcomes have had a massive impact on the Bitcoin price in the recent past and hence a specified amount of pressure is expected to mount over the asset soon.
Also, the FED has slowed down its action on interest rates, which may not have a big impact on the crypto space as well. Bitcoin price which is currently trading above $17,000 is showing some strength and hence a strong rally can be expected by the end of this week.
