According to @_RichardTeng, Bitcoin (BTC) is exhibiting remarkably low volatility, with the Deribit BTC Volatility Index (DVOL) dropping to its lowest point since late 2023 as the price holds steady near $107,000. Deribit's Chief Commercial Officer, Jean-David Péquignot, has identified the $105,000 level as a pivotal support for traders to watch. Market participants are in a 'wait-and-see' phase ahead of the crucial U.S. Personal Consumption Expenditures (PCE) data release, which Bitfinix analysts suggest will likely dictate the market's short-term direction. A dovish PCE result could trigger a catch-up rally for crypto assets. Meanwhile, a significant trend is emerging in Asia, where major banks are exploring stablecoins (USDT, USDC) to mitigate deposit flight, as highlighted by Fireblocks' Head of Asia, Amy Zhang. In corporate news, Bakkt Holdings (BKKT) filed to raise $1 billion to purchase BTC. For altcoin traders, XLM, BCH, and APT show deeply negative funding rates, signaling the potential for a short squeeze.

According to Omkar Godbole, Valentine Fournier, an analyst at BRN, stated that long-term structural demand for bitcoin BTC will overcome short-term bearish sentiment, driven by institutional adoption from entities like Metaplanet and Texas. Fournier added that Solana SOL could outperform in a recovery, while Ethereum ETH may regain support as volatility eases. Mean Theodorou, co-founder at Coinstash, noted that volatility could persist due to geopolitical events like U.S.-Iran tensions, with altcoins such as DOGE, ADA, and SOL showing steep losses indicating market de-risking. Key trading events this week include Federal Reserve Chair Jerome Powell's testimony and core PCE data release, which could influence crypto markets.

According to Crypto Rover, the Personal Consumption Expenditures (PCE) data, set for release at 8:30 AM ET, could influence Bitcoin's market performance. February's Core PCE was 2.6%, and a rise to 2.7% is expected. If the actual figure is lower than anticipated, Bitcoin is likely to rally, suggesting traders should prepare for potential market movements. This analysis is based on historical data where lower-than-expected inflation figures have often led to cryptocurrency price increases.

According to Mihir (@RhythmicAnalyst), the Personal Consumption Expenditures (PCE) data for January 2024 will be released on Friday, February 28th. This data is closely monitored by the Federal Reserve and is crucial for cryptocurrency traders as it can influence market volatility. The data release is scheduled for 8:30 AM ET, and traders should be aware of the potential impact on crypto pricing dynamics. As the Fed's preferred inflation measure, any deviation from expectations could lead to significant trading opportunities or risks.