On August 14, the U.S. Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) data for July. After the inflation rate was determined as 2.9%, the price of Bitcoin rose to $61,809. However, this market reaction was short-lived and the value of Bitcoin fell below $60,000 again.

Following the release of the US July CPI data, Bitcoin has been experiencing typical market volatility. Initially, Bitcoin’s price rose to $61,809, a rise that was linked to the BLS’ announcement that the inflation rate had dropped from June levels to 2.9%. However, this positive sentiment quickly dissipated, and Bitcoin’s price fell below $60,000. According to recent reports, Bitcoin is trading at $58,069, down 8% in the past 24 hours.

Investor sentiment has been volatile following the CPI report. On August 9, Bitcoin briefly reached $62,400 but failed to sustain that level. This failure led to a low P/E ratio relative to the seven-day moving average. As of August 15, the ratio was measured at 0.88, meaning losses outweighed profits. Furthermore, a negative funding rate of -0.004% suggested that more investors were shorting in anticipation of a price decline.

The current funding rate of -0.004% suggests that short demand is increasing and a bearish trend is expected. Bitcoin is trading below the 20-day exponential moving average (EMA), indicating a short-term downtrend. If this trend continues, Bitcoin could potentially drop to the next support level at $54,847. On the other hand, a shift in market sentiment could see Bitcoin’s price rise back above $60,000 and potentially head towards $61,388.

FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.

My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.

THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.

Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.

So who can benefit?

Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.

I EXPLAIN IN DETAILED.

My brothers and sisters who have become Binance members without a reference, please listen carefully;

When you do what I say in order, you will receive 10 USDT.

Go to the Futures Section from your application,

On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,

My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.

The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.

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Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.

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WHEN WILL THE REWARD COME?

Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.

You can share this post with your friends in need so that they can also benefit from it.

IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.