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🟠 Bitcoin to $144,000? $BTC Faces Next Big Test at This Key Level
Bitcoin rose as high as $124,533 on Aug. 14 before taking a hit following July’s hotter-than-expected wholesale inflation data.
The July consumer price index was broadly in line with market expectations, though the core reading that excludes food and energy edged higher to 3.1%, slightly over Wall Street estimates. However, the July producer price index, which measures wholesale items, showed a surprise strong 0.9% monthly gain, the most in nearly three years.
Around the time of writing, BTC was trading down 0.77% in the last 24 hours to $117,741, following Friday's drop to a low of $116,859.
On what comes next, BTC’s average entry price for newer investors and its standard deviation bands can help to identify overheated zones.Bitcoin rose as high as $124,533 on Aug. 14 before taking a hit following July’s hotter-than-expected wholesale inflation data.
The July consumer price index was broadly in line with market expectations, though the core reading that excludes food and energy edged higher to 3.1%, slightly over Wall Street estimates. However, the July producer price index, which measures wholesale items, showed a surprise strong 0.9% monthly gain, the most in nearly three years.
Around the time of writing, BTC was trading down 0.77% in the last 24 hours to $117,741, following Friday's drop to a low of $116,859.
On what comes next, BTC’s average entry price for newer investors and its standard deviation bands can help to identify overheated zones.
The short-term holder realized price (STH RP) for Bitcoin (BTC) currently sits at $107,000, which represents the average on-chain acquisition price of Bitcoin (BTC).
Bitcoin has not yet reached these levels, suggesting that the current rally might still have room to run.
#BTC # Bitcoin
{spot}(BTCUSDT)