BRN analyst: Financial markets are waiting for Powell's speech, Bitcoin volatility may rise in the next few days

Mars Finance News, August 19, according to The Block, BRN analyst Valentin Fournier said, "Bitcoin volatility may rise in the next few days or week as the market awaits further announcements from the Federal Reserve at the Jackson Hole Symposium and the release of macroeconomic indicators." Fournier mentioned that the open interest in Bitcoin futures increased before the Jackson Hole meeting. He added: "The increase in open interest may be related to investors' expectations of possible profits if the announcement is positive." According to Fournier, the broader financial market is cautiously waiting for Powell's speech at Jackson Hole on Friday, looking for clues about the Fed's possible decision at next month's policy meeting. He added: "Powell's speech may announce the Fed's first interest rate cut, and we still believe that (Bitcoin) prices will rise to $65,000 and $67,000 before a new decline."