Major cryptocurrencies, including Bitcoin, are exploring their direction ahead of key US economic indicators. The US Consumer Price Index (CPI) announcement scheduled for August 12th is expected to have a significant impact on the overall cryptocurrency market.
Currently, Bitcoin is trading at 165.18 million won, showing a 1.5% decline over 24 hours. Market experts suggest that Bitcoin has entered a 'core volatility zone', analyzing that depending on the CPI results, there is a simultaneous possibility of challenging new highs and adjusting to the 110 million won level. If Bitcoin breaks through 123.20 million won, an upward trend could resume, and this price range is drawing market attention as it matches July's peak.
ETF fund flows are also showing positive changes. From August 5th, Bitcoin ETFs have recorded approximately $769 million in net inflows, suggesting that investor risk appetite is recovering.
ETH is trading at 5.92 million won, down 1.4%. A notable point is that ETH is being highlighted as a 'corporate asset'. SharpLink Gaming has announced a preview of its 521,939 ETH holdings on August 15th, and changes in staking or funding methods could influence institutional investment sentiment. ETH is likely to show a synchronized trend depending on CPI results and Bitcoin's movements.
XRP is down 2.3% at 4,392 won, and SOL is trading at 244,000 won. Both lack clear independent momentum and are sensitive to Bitcoin's trend and macroeconomic indicators.
This week's US CPI announcement is a crucial event that will determine the short-term direction of the cryptocurrency market. If inflation indicators exceed expectations, there could be increased downward pressure on Bitcoin, while a lower-than-expected announcement might offer hope for challenging all-time highs. Additionally, SharpLink's ETH-related announcement and ETF fund flows are expected to be key variables influencing market trends.
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