This week, Bitcoin price may become volatile due to this news

Tuesday and Wednesday are important days for this bitcoin (BTC) and the crypto industry in general. On Tuesday, Sam Bankman Fred (SBF), former CEO of Bankrupt FTXAnd participate in the hearing of the US House of Representatives and testify about the collapse of his empire.

The Federal Reserve (Fed), the US central bank, will also release monthly results of the Consumer Price Index (CPI) on Tuesday. On Wednesday, the Federal Reserve will announce the new interest rate in the United States.

hear ftx

Last month, it was announced that the US House of Representatives Financial Services Committee would hold a hearing to investigate the FTX fiasco. The panel has stated that it expects to hear from interested individuals and parties including SBF, Alameda Research, and binance.

The SBF first indicated that it may not attend this hearing, as it will still be busy “learning and assessing”. However, Maxine Waters, chairman of the Financial Services Commission, has demanded that the former FTX CEO be present next Tuesday.

The SBF said in a tweet that it still doesn’t have access to much data about its companies. According to him, this means that he cannot be as useful as he would like.

1) I still can’t access a lot of my data – professional or personal. So there is a limit to what I will say, and it will not be as useful as I would like it to be.

but as the committee still thinks it will be useful, I am prepared to testify on the thirteenth. https://t.co/KR34BsNaG1

– SBF (SBF_FTX) December 9, 2022

It is hoped that the hearing will bring to the table information about what happened behind the scenes at FTX that ultimately led to the bankruptcy took care of.

Important for Bitcoin: The Federal Reserve’s decision

Rising interest rates have dominated the past few months, and a trend reversal will have to wait for some time. Inflation data will be released from the US on Tuesday and will have a significant impact on the interest rate decision on Wednesday. In its last four meetings, the Fed chose to raise interest rates by 0.75 percentage points, but it is currently expected to increase by 0.5 percentage points.

In the last month you can Bitcoin news I read that the CPI was lower than expected. The Bitcoin price And many other things Digital currencies Logical reacted positively to these findings. At the moment, bitcoin price has been stable around $17,000 for a while now, but it looks like this will end soon.