After such a turbulent week, it seems like Bitcoin investors can expect a less eventful one soon. Last week was action-packed, with widely volatile crypto prices driven mostly by the unusual incoming news. CZ’s sentencing, FED’s interest rate decision, and unemployment data revelation were the main news which affected the crypto market. On the other hand, this week appears to be relatively quiet in terms of major events and the calendar is mainly clear. BTC is now above the $62k resistance and it will act as a support for it now. BTC can head towards 68k keep in view this week’s clear schedule.

Australian Federal Reserve to Decide Rates on Tuesday

It appears that much of the previous week’s news influenced the crypto price movements. The nature of this influence, however, is not yet understood. Several macroeconomic announcements are scheduled for the upcoming week, though their effects are expected to be limited.

Most notably for the rest of the week is the Australian Federal Reserve’s rate decision on Tuesday and a swarm of FOMC member speeches. On Wednesday, Fed Vice Chairman Jefferson is scheduled to deliver an economy speech. On Thursday, the U.S. 10-year Treasury auction is due, as well as the U.S. initial jobless claims data and the Bank of England’s rate decision. Lastly, on Friday, the University of Michigan will release its consumer confidence index and Fed Governor Bowman will tell about the financial stability risks.

Bitcoin Market Sees V-Shaped Recovery After Steepest Drop Since April

Talking about the crypto market, the chart of last week’s price action shows a big, sharp, V-shaped recovery. It was the steepest drop since last April, and volatility has risen. Now short-term implied volatility is stabilizing around 55%. The options market is slowly getting set up in the manner that the major-term options IV is likely to stabilize around 55%-60%.

                                                                       BTC 7-day Chart CoinMarketCap

However, for investors, that still gives them the options to buy options at good prices because of the depreciating IV. In the crypto-interest rate market, Bitfinex spot large investors appear to have reached its bottom. Typically, the interest rate for their BFX platform is around a 20% annualized rate. Investors can participate in business and trade profit with high interest rates, and clearly may make unanticipated profits from this.