Bitcoin Poised for Volatility Amid Central Bank Events and Whale Movements, Targeting $112,000

According to a recent report by Decrypt, market participants are closely monitoring key global macroeconomic events this week, including the European Central Bank’s annual policy forum and Federal Reserve Chairman Powell’s scheduled remarks. While Bitcoin’s price has exhibited relative stability, data from derivatives and on-chain metrics suggest an imminent increase in market volatility. Investors are particularly attentive to potential shifts in monetary policy from major central banks, which could significantly influence risk sentiment across both cryptocurrency and traditional financial markets. Analyst Axel Adler Jr. highlights a notable transfer of substantial funds by whales to centralized exchanges. This movement, coupled with declining exchange reserves and reduced stablecoin inflows, historically precedes periods of heightened volatility. Provided Bitcoin maintains support above $108,000, the prevailing outlook favors a sustained upward trajectory, targeting a resistance level near $112,000.