Bitcoin-BTC Prix Aspects: The American Price Price Index (PPI) decreased by 0.1%, while keeping the price at a triangular style at $ 113,000

Bitcoin currency is currently $ 113,884, a daily negotiation volume exceeding $ 56.3 billion, an increase of 2.25% within 24 hours, and these earnings are in the middle of easier conditions in the total economy after an unexplained decrease in the price of American producers (PPI) for the month of the month of the month of the Produce Board – 0.3%, while the basic annual inflation rate slowed down to 2.8% against 3.4 in July; The drop in inflation in the wholesale sector gives the hope that interest rates are reduced in conjunction with the enthusiasts of the merchants of the graphics while waiting for confirmation of the price of penetration of the rise in bitcoin.

Surprise the price index and the market reaction index

In August, the PPI price index (PPI) recorded its first drop in 4 months, violating economists’ expectations, with a new increase, because the value of the main index decreased by 0.1% in a month compared to 0.7% of July, while annual fat inflation slowed 2.6% against 3.1%.

The details of the report indicate the slowdown in the market and the decrease in recent demand for 0.2% services after increased by 0.7% in July, and prices for raw materials increased by only 0.1% compared to the increase last month by 0.6%, while the basic index of the prices of the product (basic PPI) for the final products at the value of 2.8%, which represents its lowest level 2023.

These data contributed to reducing pressure on the federal reserve and expected a more indulgent position in September, and these conditions are favorable to the origins of risk – such as Bitcoin – in particular with inflationary shocks.

Basic points of the PPI price index (PPI):

• The total index decreased by 0.1% for the month of August instead of the expected increase of 0.3%.
• The annual index rose from 3.1% in July to 2.6%.
• The central PPI decreased to 2.8%, which has its lowest level since the beginning of 2024.

Organizational and international changes

The total economic data was not the only engine on the market this week; CBOE Exchange has announced its intention to launch Bitcoin Futures and Ethereum-Eth as soon as regulatory approvals are obtained. These products are known as “future in progress” and simulate permanent exchange contracts which are generally present on foreign markets and are subject to the supervision of American regulators, which will allow institutions to invest in the long term without having to renew contracts several times, which can constitute a structural change which improves market participation.

In a related context, the Kyrgyz government has adopted a bill to create a reserve of cryptography supported by the government and launch national mining operations, in a decision aimed at diversifying government assets by representing the digitally blockchain origins, acquiring stable currencies and by direct Bitcoin.

In the United States, the president of Securities and Exchange Committee (Paul Atkins) revealed the launch of the Crypto Project project in Paris, in reference to the transformation of the approach lasts for censorship to the adoption of clearer regulatory rules. Atkins stressed that most digital currencies should not be classified as titles, in accordance with the regulatory law of the digital markets of the European Union (Mica).

These developments are favorable to long-term Bitcoin, whether by expanding the future in the United States, adopting it at the level of governments abroad or by improving internal organizational transparency.

Technical analysis of the price of Bitcoin currency

The price of bitcoin is relatively set below the resistance level at $ 113,800, and the price table in the two hours is an increasing triangular style characterized by the climbing of the minimum levels which support the level of horizontal resistance. The simple medium movement continues for 50 periods at $ 111,896, its growing way, while its counterpart represents 200 days at 112,738 directly at the bottom of the price, which improves support areas.

The RSI index is also at the value of 64, which reflects a strong momentum without reaching the excess purchase zone, and successive emerging candles also confirm the control of buyers on the market. And if the price manages to close above $ 113,800, the technical track indicates objectives at $ 115,400, followed by $ 117,150 and $ 118,617, with the possibility of $ 125,000 in the medium term if the momentum continues.

Not staying above $ 112,000 can weaken the emerging movement and make room for $ 111,000, $ 110,000 and $ 10,450, and this reflection can be confirmed by the emergence of a series of downstream candles (a swallowed candle or the three black crows model) near the level of resistance.

Suggested trading strategy:

Bets are preferred to increase the price when closing $ 113,800 and targeting $ 117,000 and $ 125,000, with a loss of $ 111,000. In light of supporting economy data and the expansion of investment products intended for global institutions and adoption; The current Bitcoin (Bitcoin) triangle can draw the base of the next movement emerging more than a short corrective movement, and the price can reach $ 130,000 faster than expected if the momentum is in harmony with these structural developments.

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Bitcoin-BTC Bitcoin-BTC price expectations: the American product index (PPI) decreased by 0.1%, the price retaining its level on the triangle model at $ 113,000 appeared first on Arab Cryptonews.