Bitcoin Investors Anticipate Major Economic Events Today as Certain Altcoins Tumble (Market Analysis)

Bitcoin's price has slightly dropped by 0.9% in the last 24 hours as traders anticipate pivotal economic activities today. The wider cryptocurrency market also mirrors this uncertainty, with most altcoins experiencing losses, some more significant than others. The increase in Bitcoin's price over the past year has been greatly influenced by corporate Bitcoin buyers and institutions, aligning the crypto market closely with traditional markets.

Today's economic events, including Jerome Powell's speech and data on job openings, PMI, and ISM manufacturing, will likely cause volatility. Meanwhile, altcoins are experiencing a difficult day, particularly TKX, ARB, SPX6900, and SEI, which have declined between 8% and 15%. On the other hand, Bitcoin Cash (BCH) has gained more than 6%.