Reserve Dollar

Bitcoin

Reserve

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<ul> 
 <li>With the recent price drop of BTC, the crypto market is witnessing a strategic move by leading Bitcoin whales while anticipating the release of significant inflation data.</li> 
 <li>In case of a deeper correction, Bitcoin has a strong support zone ranging between $37,150 and $38,360.</li> 
 <li>While Bitcoin experiences fluctuations, market players closely monitor the upcoming release of the U.S. Consumer Price Index (CPI).</li> 
</ul> 
<p><strong>Bitcoin’s price is facing selling pressure ahead of U.S. economic data, but there is a positive trend observed in the accumulation behavior of whales!</strong></p> 
<h2 id="strong-increase-in-accumulation-trend-of-bitcoin-whales-strong"><strong>Increase in Accumulation Trend of Bitcoin Whales</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126522" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-25.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>With the recent price drop of BTC, the crypto market is witnessing a strategic move by leading Bitcoin whales while anticipating the release of significant inflation data. Despite the price drop, market observers claim that the increase in holdings of significant amounts of Bitcoin indicates a bullish trend.</p> 
<p>Particularly, this increase in accumulation is in line with potential market corrections and is complemented by significant support and resistance levels. Additionally, these market dynamics are intertwined with the anticipated release of the U.S. Consumer Price Index (CPI), adding another layer of expectation and strategic assessment.</p> 
<p>An analyst highlighting a notable development sheds light on a significant increase in holdings of assets holding 1,000 BTC or more after the recent Bitcoin price drop. In particular, the analyst implies that the increase in this accumulation suggests that Bitcoin whales are increasing their holdings using the market downturn.</p> 
<p>The analyst, in another update, claims that the crypto market is not devoid of stability factors. In case of a deeper correction, Bitcoin has a strong support zone ranging between $37,150 and $38,360. This support is backed by 1.52 million addresses holding a total of 534,000 BTC. However, it is important to note that there are two significant resistance walls at $43,850 and $46,400, and these levels could potentially act as barriers to Bitcoin’s upward movement.</p> 
<h2 id="strong-price-movements-despite-cpi-expectations-strong"><strong>Price Movements Despite CPI Expectations</strong></h2> 
<p>While Bitcoin experiences fluctuations, market players closely monitor the upcoming release of the U.S. Consumer Price Index (CPI). The report from the Bureau of Labor Statistics, scheduled to be released today, is expected to reveal that the Consumer Price Index (CPI) inflation will decrease to 3.1%; this marks the lowest level in the past five months.</p> 
<p>According to financial experts, the crypto market is poised for a recovery in case inflation data comes in lower than the estimated figures following the recent wave of selling. Meanwhile, Bloomberg economists Anna Wong and Stuart Paul state that the decrease in energy prices could provide the Federal Reserve with an opportunity to consider an interest rate cut. Additionally, economists predict that the possibility of the Fed considering an interest rate cut has increased further due to the sharp decline in short-term inflation expectations caused by the drop in energy prices.</p> 
<p>Inflation has corrected more quickly than expected, posing potential challenges for interest rate cuts in the coming months. However, Fed officials emphasize the importance of monitoring the labor market and inflation risks as they warn of potential challenges in reaching the 2% inflation target. Meanwhile, at the time of writing, the price of Bitcoin dropped by 1.6% to $41,670, with a trading volume increasing by 17.2% to $31.63 billion. Notably, the cryptocurrency fell to $40,234.58 and rose to $42,470.31 in the last 24 hours, indicating increased volatility in the digital asset space.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/accumulation-of-bitcoin-whales-increases-ahead-of-u-s-economic-data/">Accumulation of Bitcoin Whales Increases Ahead of U.S. Economic Data!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Accumulation of Bitcoin Whales Increases Ahead of U.S. Economic Data!

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