Let’s review the key events that could affect the price of Bitcoin:
1. Federal Reserve Monetary Policy (FOMC Meeting & Interest Rate Decision)
The Federal Reserve's interest rate policy has a significant impact on market liquidity and risk assets (including Bitcoin). If the Federal Reserve maintains high interest rates or further rate hikes, it may suppress Bitcoin prices; conversely, if there are expectations for rate cuts, it may drive Bitcoin prices up.
Key Points: Date of the next meeting, CPI inflation data.
2. Bitcoin Spot ETF Fund Flows
After the U.S. SEC approves the Bitcoin Spot ETF in January 2024, the market will focus on the inflow and outflow of ETF funds. Continued inflows of funds indicate strong demand for BTC from institutional investors, which may push prices up; conversely, outflows may lead to price declines.
Key Points: Daily ETF fund inflow/outflow data, asset allocation adjustments of major institutions.
3. Bitcoin Halving in 2024
Influencing Factors: Bitcoin is expected to undergo a block reward halving in April 2024, reducing miner rewards from 6.25 BTC to 3.125 BTC. Historically, Bitcoin halving typically drives prices up within 1-2 years, but there may also be volatility due to market sentiment in the short term.
Key Points: Market performance before and after halving, whether miners will sell BTC due to reduced income.
4. Macroeconomic Environment (Inflation, USD Trends)
If the global economy enters a recession, investors may prefer to hold cash rather than risk assets like Bitcoin; however, if inflation worsens, it may enhance Bitcoin's hedging value as “digital gold.”
Key Points: U.S. CPI data, non-farm employment data, GDP growth rate, and other economic indicators.
5. Regulatory Policies and Government Attitudes
The regulatory policies of various governments regarding cryptocurrencies directly affect market sentiment. For example, whether the U.S. SEC takes action against other crypto products, whether Europe introduces new regulatory frameworks, and China's stance on crypto mining.
Key Points: Meetings and policy releases of regulatory agencies in various countries.
6. Global Geopolitical Events
Wars, economic sanctions, or international conflicts may affect the demand for Bitcoin. During the Russia-Ukraine conflict, some investors chose Bitcoin as a safe haven for funds.
Key Points: Sudden geopolitical events (e.g., wars, economic sanctions, etc.)