Here’s Why Bitcoin Might Experience Volatility During This Week

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With the Bitcoin (BTC) price hovering above the $63,000 level, cryptocurrency traders and investors are bracing for a potentially volatile week. 

On Wednesday, the Federal Open Market Committee (FOMC) is expected to publish its minutes, which will shed more light on the central bank's views on monetary policy. 

Bitcoin and other risk-on assets have rallied substantially following the Federal Reserve's jumbo rate cut that was implemented last month.  

Earlier this month, the price of the original cryptocurrency topped the $66,000 mark.   

Market participants now expect the Fed to announce another rate cut after its November meeting. 

Apart from the FOMC meetings, markets will also keep a close eye on some critical macro data, including the unadjusted consumer price index (CPI) rate, which will be released on Thursday. 

The Bureau of Labor Statistics will also publish the producer price index (PPI) and jobless claims.