BTCUSD

This week, macroeconomic data and global risk appetite will continue to be decisive for Bitcoin and the overall cryptocurrency market. Following Fed Chairman Powell's speech on Sunday, the FOMC meeting minutes to be released on Wednesday and the US Core PCE inflation data on Friday may impact market interest rate expectations and thus demand for riskier assets. A hawkish Fed and a strong dollar typically exert pressure on Bitcoin, while a more dovish stance or rising inflation concerns may lead investors toward alternative crypto assets. Positive pricing may be observed in the crypto market on Monday due to the Memorial Day holiday in the US. Technically, the pivot level of 107640.93 is an important support level. An increase in global risk appetite and positive signals from the Fed this week could push BTCUSD to resistance levels of 112.262. In a negative risk environment or hawkish Fed expectations, support levels of 106462.92 (S1) and 105329.90 (S2) may come into play.