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BTC price breakout due 'relatively soon' as Bitcoin volumes spook traders

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Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000.Data from Cointelegraph Markets Pro and TradingView tracked an uninspiring day for Bitcoin, with $800 of losses coming in a single hourly candle several hours before the start of trading.The largest cryptocurrency had avoided volatility on the release of minutes from the United States Federal Reserve's Federal Open Markets Committee (FOMC).

These had avoided any serious divergence from already known facts about economic policy, and despite concerns anti-inflation measures could lead to a recession, no mention of the word "recession" appeared in the minutes.Even legacy markets remained comparatively cool, with analyst Dylan LeClair describing the situation as "eerily calm" based on volatility data.Cointelegraph contributor Michaël van de Poppe, who on May 25 had predicted a move towards $32,800 for BTC/USD, reiterated that a breakout from its current trading zone was "coming relatively soon."Breakout is coming relatively soon for #Bitcoin and if we combine that with FA, then we can clearly assume that;- Jobless claims- PCE inflation Are going to be the trigger.

Read more on cointelegraph.com
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