As we enter the week where macroeconomic data from the US will shape the markets, attention is on the Bitcoin (BTC) price. Whether the Fed will cut interest rates in September may become clear this week.
Markets had an indecisive start to the new week. Global markets, which have entered a recovery process after the collapse of the Japanese stock index, are focused on the data to be released this week. US inflation data will determine which direction the markets will take.
Bitcoin started the critical week with a drop of nearly 5%, falling from $61,200 to $58,324.
BTC is expected to face selling pressure this week. High volatility is likely to lead to liquidations in BTC futures.
Significant movements in global markets can also affect cryptocurrency markets. Bitcoin had a tough time, especially during the week when the Japanese stock market index Nikkei 225 lost 13% of its value. Macroeconomic data from the US is expected to move the markets this week. The US producer price index (PPI) will be announced on Tuesday, August 13 at 15:30 Turkey time. PPI is expected to come in at the same rate (0.2%) as the previous month.
One of the critical data for the markets will be announced on Wednesday. The US consumer price index (CPI) will be announced on Wednesday, August 14 at 15:30 Turkish time. Since the CPI is an important data that affects the Fed's interest rate policy, it is expected to be the same as the previous month (3.0%). If US consumer inflation falls below 3.0%, there may be statements that the Fed may cut interest rates in the coming weeks.$BTC
The following day, Thursday, August 15, at 15:30 Turkish time, US jobless claims and core retail sales data will be released.
This week, when PPI and CPI data will put pressure on the markets, BTC is expected to maintain $ 57,000 as an important support point. If PPI and CPI data are positive, it is predicted that BTC could rise above the $ 62,500 level again.
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So who can benefit?
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I EXPLAIN IN DETAILED.
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You can share this post with your friends in need so that they can also benefit from it.
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