Bitcoin Market Awaits Fed Minutes and Nvidia Earnings Amid Economic Uncertainty

Market analysts are closely watching the Bitcoin price as it faces various economic indicators and market drivers. Following its drop below $77,000 on May 18, investors are anticipating a potential recovery or further decline based on upcoming events.

The U.S. Federal Reserve's minutes, scheduled for release on Wednesday, will be crucial in determining interest rate policy and inflation expectations. Recent data has raised concerns that the Fed may maintain higher rates for longer, which could pressure Bitcoin and other risk assets.

Nvidia's May 20 earnings report is also expected to influence AI stock demand and related crypto tokens. A strong report could boost AI-related cryptocurrencies, while weak guidance might add to market stress.

Oil prices remain a significant market driver, with WTI crude futures climbing above $107 due to stalled U.S.-Iran talks and Strait of Hormuz disruptions. This increase in oil prices can keep rate-cut hopes under pressure and reduce demand for speculative assets.