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Bitcoin tumbles: inflation strikes - institutions secure profits!
Bitcoin falls below $ 110,000, while inflation contains the markets. Institutional sales and ETF drains increase.
Bitcoin tumbles: inflation strikes - institutions secure profits!
Inflation in the United States has increased again and has triggered new concerns among dealers. According to the latest data from personal consumption editions (PCE) Price Index, the preferred inflation scale of the Federal Reserve, it rose by 2.7 % in August compared to an increase of 2.6 % in July. This development has led to some institutional investors realize profits, which has a negative impact on the cryptocurrency market. Bitcoin fell below the brand of $ 110,000 after it was traded on September 26 at USD 109,640, which corresponds to a decline of 1.6 % a day and 5.5 % a week.
The worrying inflation numbers can be seen as a trigger for the negative price movement of Bitcoin. The Federal Reserve recently had the first interest rate reduction of the year to react to the continued low employment and growth rates. Analysts fear, however, that the increasing inflation may prevent the FED from making further interest rate reductions, which could have a negative impact on highly growth -oriented assets such as Bitcoin.
Institutions take profits with
Arthur Azizov, the founder of B2 Ventures, noted that institutional investors realize profits in this highly competitive market, which indicates that the market may have been overheated. This is also reduced by the decline in ETF inflows that have fallen over 50 % in the past week. The inflows dropped from $ 930 million from $ 930 million.
Azizov also identified the price range between USD 108,000 and USD 108,500 as a decisive support zone for Bitcoin. A slide under this brand could lead to USD 90,000 and 95,000 and could cause further concerns among investors, since the uncertainties regarding the development of inflation and the reaction of the Federal Reserve remain.
While the markets observe the latest developments, it remains to be seen how inflation will affect the cryptocurrencies in the long term. Investors are required to adapt their strategies and to take into account the more volatile market conditions that are influenced by such macroeconomic factors.
In summary, it can be said that increasing inflation and institutional profit from the current trends in the Bitcoin market dominate, while the signs of potential price returns and a possible market correction increase. This is a significant challenge for everyone involved who are active in the area of cryptocurrencies.