🍀Economic Factors:
US inflation data (August 12): Expectations for annual inflation at 2.8%. If the data comes in lower than expected, it may support risk assets like cryptocurrencies.
Retail sales data (August 15): will impact the Fed's interest rate policy expectations, potentially leading to market volatility.
Key Events:
The launch of FTX distributions worth $1.9 billion to creditors may affect market flows.
The Trump-Putin meeting (August 15) may affect geopolitical sentiment and risks.
Price Predictions:
Bitcoin: may target $129,200 if it breaks $121,600, but support at $110,000 remains critical.
Ethereum: may target $4,800, with strong support at $4,000.
Altcoins: Continuation of the cycle towards altcoins like Solana and SUI, supported by Ethereum's strength.
6. Risks and Recommendations
Risks:
High market volatility, with significant liquidations indicating correction risks.
The impact of upcoming economic data (CPI, PPI, retail sales) may lead to a decline if negative.
Potential regulatory risks, such as the sale of 61,000 bitcoins by the UK government to address the budget deficit.
Recommendations:
For long-term investors: focus on currencies with strong fundamentals (BTC, Bnb, ETH) while monitoring institutional flows.
For short-term traders: use tight stop-losses at key support levels, while monitoring funding rates (12.08% for BTC, 17.4% for ETH) to avoid liquidations.
Diversification: consider altcoins like SOL and LDO for higher returns, but cautiously due to volatility.
🌟Note: The cryptocurrency market is highly volatile, and it's advisable to consult a financial advisor before making investment decisions. If you want an analysis of a specific coin or a detailed strategy.
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