While Bitcoin (BTC) continues to frustrate traders with a dull price action less than $ 100,000, here are key events this week that could rekindle market activity.
FTX package
The FTX, formerly the third largest exchange of digital assets in the world, should start its first series of creditors’ payments after having ruled at the end of 2022. 9% of annual post-petition interest.
Although optimism is high that beneficiaries run this money on the market, raising assessments at all levels, not everyone agrees.
“FTX will distribute about $ 1.2 billion to convenience class creditors,” Markus Thielen, founder of 10x Research, said on Monday in customers. This amount is “too small to move the needle”.
Thielen said only $ 7 billion compared to the remaining $ 10.5 billion allocated to larger creditors could be available for possible cryptography investment and only $ 7 billion could return to the market. Thielen explained that this could lead to a clear entry of more than $ 3 billion, which is only a month of net entrances to the bitcoin market.
Mena Theodorou, co-founder of Crypto Exchange Coinstash, expects small creditors to put money in Solana.
“The Historical Investments of the FTX in Sol and the Solana ecosystem probably make that some of these funds will return to the network, especially since soil has been an interpreter out of competition, increasing more than 500% in the past year , with a strong chain activity and a developer, growth continuing to fuel demand, “said Thoedorou in an email, the addition of soil could potentially surpass the wider market.
Trump-Musk call
US President Donald Trump and billionaire investor Elon Musk will sit with Fox News host Sean Hannity, the network announced on Friday. The discussion will probably be focused on questions such as politics, prices, immigration and potentially digital assets, which could all raise market volatility.
“Trump is expected to speak in an exclusive interview with Elon Musk on Fox News on February 19 – one day before the FOMC meeting on February 20,” Coinstash said. “Given Trump’s growing alignment on the narrow links of crypto and musk with space, this interview could stimulate market volatility, in particular if they approach policy, regulations or institutional adoption.”
Recently, the Trump administration said it would assess the feasibility of a BTC strategic reserve, disappointing the Bulls providing for rapid action on the promise before withdrawal.
FOMC minutes
Wednesday will put the minutes of the January meeting of the Federal Reserve when the central bank held stable interest rates. The bank said that he was not in a hurry to reduce rates and wanted to see more progress on inflation.
The minutes are likely to repeat this message, especially since the IPC and the IPP for the month came warmer than expected, eliminating the case of an increase in the rate reduction to the ‘American economy. In addition, Trump’s prices continue to increase the inflation spectrum.
Merchants will analyze the minutes to see if political decision -makers thought that policy was restrictive, which would mean that the next decision could still be a drop in rate. However, if the minutes suggest the opposite, we could see a certain volatility in the obligations that could potentially weigh on risk assets, including cryptocurrencies.
Hong Kong consensus
The Hong Kong consensus, the cryptocurrency and blockchain and the Blockchain of Coindesk’s cryptocurrency will start on Tuesday, with a deep dive in the blockchain and web 3 area.
With more than 270 speakers and thousands of participants of more than 90 countries, the three -day affair will probably offer a unique perspective on blockchain technology and the investment of digital assets in Asia, potentially in motion.
