August holds three events that could significantly move the price of Bitcoin.

The Fed, the spot Ethereum ETF, and the expiration of options contracts are the main influencing factors.

As the price of Bitcoin (BTC) swings, investors are cautiously awaiting what remains of August, as it holds within it three significant events that could drive the market towards a strong movement, either upward or downward.

The market currently lacks a clear direction, and any of these factors could turn into a catalyst for a large surge or sharp correction.

1. The US Federal Reserve under scrutiny

The first event is the release of the FOMC meeting minutes on August 20, followed by the Jackson Hole Symposium events from August 21 to 23.

The US Federal Reserve is known for surprising the markets, and after holding interest rates steady in July, investors are awaiting any signals for a shift in monetary policy. If Fed Chair Jerome Powell adopts a more dovish tone or hints at pausing interest rate hikes for a longer period, this could support high-risk assets like Bitcoin.

If it adopts a more hawkish approach, this will strengthen the US dollar (DXY) at the expense of Bitcoin's appeal. Therefore, it will be essential to monitor any hints of monetary easing or revisions to economic forecasts, in addition to tracking US inflation data.

2. Regulatory step that may boost market confidence

The second event is the US Securities and Exchange Commission (SEC) acknowledging on August 1 a proposed amendment for a spot Ethereum ETF from BlackRock, which includes adding a staking feature.

And although this news directly concerns Ethereum (ETH), its approval will enhance confidence in crypto spot funds in general, positively reflecting on Bitcoin as the leading digital asset.

The success of this type of investment product could bring massive financial flows into the market and restore momentum to the idea of Bitcoin as a reserve value asset, in addition to the effect of 'positive contagion' that drives the prices of other currencies up.

3. Options contracts expiration... Whale game

The third event is the expiration of monthly Bitcoin options contracts on the Deribit platform, which captures more than 90% of the global digital derivatives market.

This date typically sees noticeable movements from large investors and whales, as they readjust their positions based on the 'Max Pain' area — which is the price level that sees the largest number of options contracts expiring.

Summary:
August could be crucial for Bitcoin's direction, as Fed decisions, major regulatory moves, and whale maneuvers in the options market are all interconnected factors that could create a mix of volatility and opportunities. Investors should remain on alert for any early signals that could determine the currency's next trajectory.

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