Bitcoin is expected to experience heightened volatility as speculations arise surrounding a new Chinese fiscal stimulus and the impending expiration of BTC options valued at $1.1 billion. China is set to announce potential economic enhancement measures that could affect global crypto assets positively.
Recent interest rate cuts by the People’s Bank of China aim to increase market liquidity, garnering attention from crypto investors. A confirmation of further Chinese fiscal measures could trigger significant interest in risk assets like Bitcoin.
If the U.S. Federal Reserve continues to reduce interest rates, it may also boost demand for volatile digital currencies. A projected 50 basis points cut might expand liquidity globally, helping Bitcoin maintain its current price levels.
Another pressure point is the $1.1 billion BTC options set to mature on October 11, with a slight forecast towards put options. Bitcoin runs the risk of price shifts, especially around the "max pain" price of $62,000.
Despite global challenges, analysts believe Bitcoin is resilient, possibly leading to a Q4 2024 crypto boom. Notably, QCP Capital and Bitwise's CIO have highlighted factors that could push its price close to $80,000.
