Bitcoin Weekly Outlook: All Eyes on Powell and Mnuchin Testimonies

Nevertheless, BTC/USD uptrend eased on Thursday and Friday as traders assessed Powell’s optimistic remarks on the US economic recovery. Bitcoin looks ahead at a fruitful weekly session as the market waits for the congressional testimonies from Mr. Powell and the US Treasury Secretary Steven Mnuchin.

Observers believe that Mr. Powell would most likely let Mr. Mnuchin talk about the US government’s plans to introduce the second stimulus package. It might likely do so on Monday or Tuesday, based on traders’ advanced upside reactions to Mr. Powell’s speeches, as seen throughout this year.

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