Why is the encryption market today (August 14) disrupted? star-news.press/wp

The encryption market is being collided today, August 14, just hours after bitcoin rises to the highest new level ever.

The Bitcoin (BTC) price scanned its previous gains and receded to $ 117,000, while distinctive symbols such as Spx6900 (SPX), Dogwifhat (WIF), Celestia (TIA), and the chart decreased by more than 10 %.

The constant collapse led to a 91 % jump in the liquidation, totaling more than one billion dollars. More than 216,000 merchants have been filtered.

The collapse of the encryption market related to opportunities to reduce interest rates in the Federal Reserve

The encryption and stock markets decreased with a decrease in the chances of reducing the interest rate in September slightly. Polymark data These possibilities were made by 73 % of the highest level this week by 80 %.

Likewise, cme Fedwatch tool He explains that the possibilities decreased from a 99 % increase on Wednesday to 90.6 %. These possibilities decreased after the United States published the product price index data in Julyand That was higher than expected.

According to the work statistics office, the producers’ price index increased from 0 % in June to 0.9 % in July and from 2.6 % to 3.7 % on an annual basis, indicating that the customs tariff has an effect.

The PPI report came two days after the office launched consumer inflation data. The main consumer price index remained 2.7 %, while the primary number that was closely monitored increased to 3.1 %, and moved away from the goal of the Federal Reserve by 2 %.

These numbers arrived a day after Austan Golsby, Chairman of the Federal Reserve at Chicago, said he would need to see inflation before price discounts. He warned that the customs tariff would be a stagnation, which holds the meetings of the upcoming Federal Reserve Bank.

The increasing rank contributed to encryption crash

The accident was also fueled by an increase in the qualifiers, adding the sale pressure to the market. Data from COINGLASS total future contracts show open benefits of more than 215 billion dollars, with a high financing rate to +0105 %.

These figures indicate that most traders have been placed for a long time when Bitcoin and Altcoins rose earlier in the day. After the product price index report, the qualifiers increased, prompting encryption prices to a decrease. The sale of panic may have doubled the decrease with low prices.

Bitcoin price double style

Technically, the diving followed the formation of a higher pattern from above, with the neckline at $ 112,000. This setting often indicates more from the downside, as it reflects the investor’s frequency in paying prices up from the previous highlands.

Worse, Bitcoin has also formed a declining difference, characterized by a large dumping candle in the wake of a smaller climbing pattern. This indicates that BTC can fall towards the moving average for 50 days, which is likely to withdraw altcoins above.