Bitcoin decreases to 115 thousand dollars amid weak total kidney data star-news.press/wp

Bitcoin has decreased to about $ 115,000, which represents a decrease of 6.8 % less than its rise at all at $ 124128, which was reached on August 14.

The move comes at a time when the total economy data disturbed, while adult holders seemed to protest gains near the upper part.

The prices of consumers in July raised hopes that interest rate cuts were close, but the producers’ price index rose more than expected, which reduced optimism to reduce September. This shift in Outlook Limited Risk Respete and Extridows is of speculative assets.

At the same time, US Treasury Secretary Scott’s comments confirmed that Bitcoin will not be added to national reserves, indicating a more cautious financial approach. This declaration reduced some of the difficult momentum that was built during the gathering.

Bitcoin exchange flows indicate profits

According to August 16 analysis By Borisvets, the positive Binance Netflows turned last week as Bitcoin (BTC) rose, while external flows slowed. This represents the beginning of the distribution stage, as whales were prepared for sale in a new request.

Before Bitcoin at all, the flows rose and the Binance reserves rose, confirming that the show was moving to the platform. The sellers quickly moved to exploit the excessive phase after the gathering stopped without the peak. The permanent price gap has expanded, indicating excessive financial lever and creating perfect conditions for a sharp decline.

Meanwhile, Stablecoin Netflows increased in Binance, indicating that buyers were still excited to enter the market. This created an imbalance in which new buyers entered while the whales emptied the situations. Given the huge trading volume of Binance, such transformations strongly affect global feelings, which leads to exaggeration of fluctuations in all fields.

Bitcoin technical analysis

From a technical perspective, Bitcoin fell under the midpoint of Bollenger Band, with $ 114,600 as a decisive support. The relative power index has been cooled to the semi -Oversold lands, indicating that the momentum on the downside may slow down.

Due to the weakening of the total direction, a sustainable break may indicate less than 114,000 dollars to more of the downside of about $ 112,000. A recovery of more than $ 117,500 will be a good sign of the bulls that the withdrawal has ended and may lead to another attempt at $ 120,000.