Global liquidity supports Bitcoin's trend, core inflation may disturb the market again

According to news from Hash World Chain and analysis by HTX Research analyst Chloe, as of the end of August, global liquidity remained high and the M2 money supply of major economies reached $95.116 trillion, setting a historical record. This sustained short-term liquidity support has provided strong backing for Bitcoin prices. At the same time, the concentration of institutional holdings continues to increase, with Bitcoin ETF holdings surpassing 1.3 million units, and MicroStrategy also adding 430 BTC, indicating a robust demand from institutions for Bitcoin allocation. Looking ahead to the next week, macroeconomic data will be a key factor in market pricing. The U.S. is expected to release the revised Q2 GDP figures on August 28, with market expectations likely being downgraded from the initial value of 3.0% to 2.4%; on August 29, core PCE data will also be released, which is considered an important inflation indicator ahead of the Federal Reserve's September meeting. If the core PCE data is higher than expected, it may lead the market to reassess the interest rate cut path, thereby suppressing Bitcoin's short-term trend; conversely, if inflation slows, it will reinforce the market's expectations for accommodative policies, further supporting the continued strong performance of the cryptocurrency market.