#HotJulyPPI 🚀🤑💸💚🚀
🚨🔍The cryptocurrency market is facing a decline today, August 15, coinciding with the Producer Price Index (PPI) data in the United States. The economic data came in as follows ¹:
- *Producer Price Index (PPI)*: Increased by 0.9% month-on-month and 3.3% year-on-year, exceeding expectations.
- *Impact of economic data*: This data led to a decrease in the prices of Bitcoin and Ethereum, with the price of Bitcoin dropping below $119,000 and Ethereum declining by nearly 4%.
*Impact of rising Producer Price Index on cryptocurrencies*:
- *Decline in cryptocurrency prices*: An increase in the Producer Price Index leads to higher inflation, which may result in interest rate hikes, negatively affecting cryptocurrency prices.
- *Delay in interest rate cuts*: The Federal Reserve may postpone interest rate cuts due to rising inflation, which could impact the performance of cryptocurrencies.
*Bitcoin price predictions*:
- *Predictions for a rebound*: Forecasts suggest that the price of Bitcoin could rebound by at least 10%, with the possibility of reaching $150,000 or $200,000 before the end of 2025.
- *Support and resistance levels*: The $90,000 level is considered an important support level for Bitcoin, while the $87,000 level represents strong resistance.
#BTCHashratePeak #ETHTreasuryStrategy #BinanceAlphaAlert #Write2Earn
