Bitcoin Outlook Hinges on US Economic Calendar This Week

The US economic calendar is a crucial factor in determining Bitcoin's short-term direction. With several key events scheduled for this week, traders are closely watching the developments to gauge their impact on the cryptocurrency.

The Federal Reserve speeches are one of the most significant events that could influence rate cut expectations and dollar strength. Historically, Fed officials have been hawkish, emphasizing vigilance against inflation and data dependence. If they reiterate concerns about 'last-mile' disinflation or signal patience on cuts, Treasury yields may rise alongside the US dollar.

On the other hand, dovish commentary highlighting slowing growth or labor softening could weaken the dollar and spark a relief rally in risk assets. A unified hawkish tone, however, may trigger a pullback in Bitcoin's price.