The Bitcoin (BTC) price has reached a new little time more than $ 123,231 on Coinbase, following a similar performance of the S&P 500 which joined a record of 6,457.
The ascent of Bitcoin to new heights occurs one day after the US CPI print in July showed 2.7% inflation in annual sliding, which was unchanged compared to June and below the forecasts of 2.8%. Data has shown that the overall IPC increasing 0.2% against an increase of 0.3% in June.
Following the report press release, the CME Fedwatch tool showed that the market ratings of a drop in interest rates at the September meeting of the Federal Reserve from 93.9%.
Longtime crypto investors claim that Fed rate reductions and a distance from the quantitative tightening is historically beneficial to the action of bitcoin prices, and many also anticipate the implementation of the economic agenda of US President Donald Trump describes in the major bill to have increased spending, inflation and risks on the financial markets.
The entries to the Bitcoin and Ether ETF also drew the attention of the traders and added to the hassy feeling present throughout the market. The X Farside Investors account shows that the BTC ETF Netflows reaching $ 65.9 million, while the ETH instrument experienced $ 523.9 million in action on Tuesday.
Tuesday, the ETH ETF saw its first $ 1 billion entry, and although Bitcoin ETF Netflows has slowed down, the instrument has always seen $ 1.02 billion in entries since Friday. The cumulative impact of the success of the ETH clearly stimulates the feeling through the prices of Bitcoin and Altcoin.
The data from the Hyblock liquidation thermal card show Bitcoin which grows through a short liquidation cluster from $ 122,500, with a place for a forced closure of the positions extending to $ 124,000. Coinglass data suggest that nearly $ 2 billion in short positions are at risk of liquidation if traders push the price of the BTC through the liquidity group from $ 1,2,2800 to $ 125,500.
In relation: Bitcoin Bulls invoices at peaks of all time, because trader says $ 126,000 “pivot”
The Bitcoin rally to new heights is gaining market capitalization of more than 2.45 billions of dollars, while the total market capitalization of cryptography is currently at a record of 4.15 billions of dollars.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.