Bitcoin (BTC) has been stuck in a tight range, frustrating traders as it hovers below the much-anticipated $100,000 mark. However, this week’s macroeconomic and industry events could inject fresh momentum into the market. Key developments include the FTX creditor payouts, a high-profile Trump-Musk interview, the release of FOMC minutes, and the Consensus Hong Kong conference.
FTX Payouts: A Market Catalyst?
FTX, once the third-largest crypto exchange, is set to begin creditor repayments after its collapse in late 2022. The first round will see Convenience Class creditors—those owed no more than $50,000—receive full repayment with 9% annual post-petition interest.
Some believe this influx of funds could spark a market rally. Markus Thielen, founder of 10x Research, estimates that around $3 billion could return to crypto markets, which is equivalent to a month’s worth of net inflows into Bitcoin.
Meanwhile, Mena Theodorou, co-founder of Coinstash, predicts that a portion of these funds will find their way into Solana (SOL), given FTX’s historical support for the ecosystem. SOL has already surged over 500% in the past year, driven by strong on-chain activity and developer growth.
Trump-Musk Interview: A Political Wildcard for Crypto
On February 19, former U.S. President Donald Trump and billionaire Elon Musk will appear in an exclusive Fox News interview hosted by Sean Hannity. While the discussion will likely cover politics, tariffs, and immigration, crypto could also be on the agenda.
Trump’s recent remarks on a potential strategic Bitcoin reserve have already stirred market speculation. If the interview touches on regulatory policies or institutional adoption, it could lead to increased market volatility. Given Musk’s strong influence over crypto markets—especially meme coins like Dogecoin (DOGE)—traders will be watching closely.
FOMC Minutes: Rate Cut Uncertainty Looms
The U.S. Federal Reserve will release the minutes from its January meeting on February 21. While the Fed kept interest rates steady, recent hotter-than-expected inflation data (CPI and PPI) has dampened hopes for early rate cuts.
Market participants will scrutinize the minutes for clues on whether policymakers see the current policy as restrictive. If the Fed signals a delay in rate cuts, bond markets could react sharply, potentially dragging down risk assets, including Bitcoin and other cryptocurrencies.
Consensus Hong Kong: Spotlight on Asia’s Crypto Growth
The three-day Consensus Hong Kong conference kicks off on February 20, bringing together over 270 speakers and thousands of attendees from more than 90 countries. The event will feature discussions on blockchain innovation, Web3 adoption, and investment trends in the Asian crypto market.
Given the region’s increasing influence on digital asset development and regulatory frameworks, insights from this conference could impact market sentiment and investment flows.
This week presents multiple opportunities for volatility in crypto markets. While FTX payouts may provide fresh liquidity, macroeconomic factors such as the FOMC minutes and Trump-Musk discussion could dictate broader market trends. Traders should stay alert as these developments unfold.
