“The risk of inflation is inclined to the upward trend”: Can Bitcoin install this to $ 120,000? star-news.press/wp

Main meals

Bitcoin gathered about 5 % on Friday after the tilt of Powell. However, a few hours later, the markets appeared to be divided into the period price discounts in September.

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Bitcoin (BTC) About 5 % to $ 117,000 wore immediately after a sudden position by Federal Reserve Chairman Jerome Powell during the Jackson Hall symposium on August 22.

P. Glimpse When the interest rate is reduced in September, citing the risks of the labor market, he even stressed the persistent pressure of inflation.

“In the short term, the risk of inflation tends to the upward trend, and the risks of employment on the negative side – a difficult situation … However, politics in restrictions, basic expectations and variable risk balance may ensure amendment of our political position.”

The market digesting Powell’s comments

Immediately after speaking, Show CME Fedwatch The possibility of lowering the BPS rate on September 25 to 90 %.

BTC also exploded from 111.6 thousand dollars to more than 117 thousand dollars on Friday, with the bullfighting bulls on the wave, as shown in the sharp rise in open interest (OI).

About 300 million dollars flow In Binance derivatives in minutes after speaking.

However, by the time of the press, BTC was cooling to 116 thousand dollars as the market digested Powell.

Mixed views of the market voices

For his part, Roshan Robert, CEO of OKX US, Ambcrypto, told price cuts that would improve the “investor’s appetite” for encryption.

“Not only does the price cuts be reduced from financial conditions – they open the investor’s appetite. With liquidity revenues, we expect to see deeper markets, more strict differences, and higher sizes with OKX clients. It is in these moments when the encryption proves that they move from hedging to basic assets.”

However, Katalin Tischhauser, head of research at Sygnum Bank, looked at Powell’s speech as “contradictory”.

While the Federal Reserve Chairman has allocated unemployment risks, Tischhauser indicated that he also said the labor market was “in good condition.”

“These mixed messages may leave the observers not sure whether he is seriously thinking about cutting or simply bending the external pressure.”

But Tischhauser told Ambcrypto that the encryption market can extend its gathering despite uncertainty.

What do you expect next week?

However, this gathering seemed to be driven by luxury, as ETF Spot BTC witnessed a daily flow of $ 23.15 million on Friday, up to $ 117 billion.

In addition, the demand for retail has also decreased as shown in the Coinbase Premium index, which confirms more morale on risks among American investors.

However, unemployment demands in the United States on August 28 will make more clarity in the labor market and reduce September prices.

Since it will eventually affect the BTC movements and whether it can recover 120,000 dollars, it will be worth tracking.