Bitcoin price strikes new all the time, what is the next? star-news.press/wp

Bitcoin price was absolutely a new rise above 124 thousand dollars, supported by an angle of the risk of reducing the Federal Reserve in September, which was strengthened by the American CPI reading solutions in July.

According to Crypto.News data, Bitcoin (BTC) has increased by more than 8.5 % in the past seven days to 124128 dollars on Friday, Asian morning time, and put the highest new level ever. Since then, it has decreased slightly less to 123,197 dollars until the time of the press, and has been getting 32 % gains since the beginning of this year and more than 62 % of its lowest level in its history.

Bitcoin’s batch came to its highest level a day after the US CPI launch in July, which showed a 2.7 % steady annual inflation, and the June rate match and comes to less than 2.8 % expectations. The report also indicated that consumer prices increased by 0.2 % on a monthly basis, a decrease from a 0.3 % increase in June.

the CME FedwatchA tool that follows the market expectations of interest rate changes in the field of federal reserves showed the possibility of lowering prices at the September meeting to 95.8 % after printing CPI in the United States.

Reducing the federal reserve rate reduces borrowing costs and increases liquidity, which often causes investors to turn into risk assets such as cryptocurrencies in search of higher returns.

The instant Bitcoin flows and Ethereum Etfs have been a pivotal factor that supports the BTC gathering to its highest new levels ever.

Socal Data It has shown that the 12 -points investment funds in BTC attracted more than a billion dollars of net flow over the past five days, while their ether counterparts have reached about one billion dollars on Tuesday alone, which with some upward morale has sparked up through the encryption market.

Look at the BTC rotation map from Coinglass He appears The last transition from Bitcoin to its highest level was accompanied by a wave of short qualifiers, especially in the range of 124,000 – 126,000 dollars, as price pressure on betting on betting against the assembly was forced to close positions. This short cap is possibly inaugurated during interest.

However, the graph also reveals a heavy concentration of long liquidation levels that collect about $ 120,000 – $ 121,000. If the price will be referred to this area, this may lead to a series of forced sale and accelerate the pressure of the negative side.

BTC price analysis

Bitcoin seems to have formed a parallel canal style on the graph for 4 hours, which consists of its highest levels and the highest level in two parallel lines of upward. This configuration usually indicates a continuation of the prevailing upward trend.

The premium code is currently regaining after touching the upper boundaries of the channel, with about $ 120,500 moves by the end of the current session. If BTC gets support at this level, about $ 127,000 may recover in the next stage higher, assuming that it continues to circulate within the channel.

The bullish intersection of the moving average is strengthened for 50 days higher than the moving average for 200 days, indicating a continuous positive momentum in the direction.