Investors in the cryptocurrency were preparing for the annual American Federal Reserve in Jackson Hall on Friday, as President Jerome Powell’s statements may provide major signals on the interest rate policy heading to the Federal Open Market Committee meeting in September.
Bitcoin (BTCIn short He decreased to 112,565 dollars On Wednesday, Cointelegraph data showed the last two weeks on August 3.
Bitcoin’s decline was less than $ 113,000 a glimmer of “high nerves in the market” as the total economic tensions surrounding the Powell speech were causing “fear mutations” among digital asset traders, according to Ryan Lee, the chief analyst at Bitget Exchange.
“Now, allowing the settlements to settle and find liquidity may pave the way for the apostasy,” the analyst told Cointelegraph, adding that if the support level of $ 112,000 remains even the letter, it may provide “the preparation for the next men from running the bull instead of reset.”
Related to: Checks in the United States 401 (K) may pay Bitcoin retirement to $ 200,000 in 2025
Companies continue to accumulate Bitcoin
The investor’s concerns about delaying the potential interest rate on August 12, after the US Consumer Prices Index (CPI) has been exacerbated Show Consumer prices increase by 2.7 % on an annual basis, which remained unchanged from June, but much higher than the goal of the Federal Reserve by 2 %.
After the consumer price index news, the interest rates of the interest rate decreased by more than 12 %, to 82 % on Wednesday, a decrease from 94 % per week a week ago, According to To the latest estimate of the Fedwatch tool for the CME group.
Reducing the first interest rate for 2025 may become a major incentive in the market, which leads to two or three expectations of interest rates before the end of the year, according to Andre Dragosh, European Research Head at Crypto Asset Manager Bitwise.
“The moment you see price discounts by the Federal Reserve, the curve will descend, which means more acceleration and the growth of American money supply,” Dragush told CointelegraPh, adding that the price cuts may be the most important development of Macro to support the “Bitcoin” at least until the end of the year. “
Related to: Ether Trader turns to $ 125,000 to $ 43 million, closure in $ 7 million after the market drop
Despite the transformation of great feelings Between retailersAnd companies continued to obtain the world’s leading cryptocurrencies.
At least 297 general entities kept Bitcoin, Even 124 At the beginning of June.
This included 169 public companies, 57 private companies, 44 investment and exchange funds, and 12 governments that washed 3.67 million BTC, which represent more than 17 % of the total offer, According to to Bitcointreasuries.network.
https://www.youtube.com/watch?
magazine: Bitcoin Og Willy Woo has sold most Bitcoin – Here’s the reason
