#BTCUSD: (h2)
Bitcoin is rising, apparently on expectations of a Fed rate cut in September. The rate climbed to $122,370, after which it pulled back to $119,500. The money flow indicator signals favor for the bulls, we expect movement towards $125,000.
El Salvador has allowed banks to hold Bitcoins.
Strategy bought another 155 BTC for $18 million and approached 3% of the total supply.
On July 14, SOPR reached overheated values between 1.03 and 1.05, signaling a possible end to the Bitcoin rally; it is now at 1.00, indicating less aggressive profit-taking.
Capital flows in the spot market confirm optimism. The Taker buy/sell ratio, showing who dominates - buyers or sellers, has risen from a neutral level of 1.02 (August 10) to 1.14 - the highest level since early July, with a majority for buyers.
Profit to all, friends!$BTC