Bitcoin Holds Steady as ECB Forum Looms, Traders Gear for Volatility Shift

Key Points

1. Bitcoin held near $108,000 over the weekend, with traders focusing on upcoming macro events like the ECB’s policy forum and Fed Chair Powell’s comments.

2. On-chain data indicates whales are moving large volumes of Bitcoin to centralized exchanges, while stablecoin inflows remain weak, signaling potential volatility.

3. Analysts suggest Bitcoin could target $112,000 if it maintains support at $108,000, with downside protection seen at $85,000, $100,000, and $106,000.

4. Ethereum markets show bullish sentiment, with increased call activity at $2,900 and $3,200, driven by anticipation of the ETHCC event in Cannes.

5. Fed Chair Powell is expected to emphasize caution on inflation and labor markets, influencing market expectations for future monetary policy easing.