Bitcoin Conference in Las Vegas Kicks Off as Price Exceeds $109,000

Bitcoin (BTC) is trading at approximately $109,000 ahead of the Bitcoin Conference in Las Vegas. Historical data from Galaxy Research indicates poor performance for BTC during and after previous conferences:

2019 San Francisco conference: BTC declined 10% during and 24% over the following month.
2022 Miami conference: BTC fell 1% during the event and 29% in the subsequent month.
2024 Nashville conference: BTC gained 4% during but dropped 20% shortly after.

Despite a bull market in 2023, price action remained flat or negative. The upcoming conference features Vice President J.D. Vance and increased institutional engagement. However, historical trends suggest that conference weeks typically lead to sell-offs.

BTCUSD Price Performance During and After BTC Conferences (Galaxy Research)