Following the publication of inflation data in the United States in July, Bitcoin failed to continue its previous rebound, with prices falling around $6.33 million on 13 August. While the data were not stronger than expected, they did not bring in enough new buys and market sentiment turned to caution.

$6.45 to $65,000 remains a drag.

According to the United States Bureau of Labor Statistics, the CPI ring ratio rose by 0.1 per cent in July and by 3.4 per cent the same year, all of which were consistent with market expectations, with a slight slowdown from 3.5 per cent in June. Following the release of the data, Bitcoin was located in the vicinity of $64,000, but subsequently returned from approximately $6.43 million to approximately $6.33 million.

From recent trends, between $6.45 million and $65,000 remain the most critical area above the Bitcoin short-line. Over the past few trading periods, prices have tried to stand on this area on several occasions, but have been pushed to a higher short-term height.

The slowdown in inflation did not bring in additional funds

This time, CPI data reduced the market’s concern about the unexpected rise in inflation and the immediate pressure on the Fed to further tighten its policy. However, as moderate inflation expectations had previously been partially absorbed by the market, the data had not attracted significant additional funding.

Thus, this turnback is more like the end of the profit after the news is delivered than the fall out of control. Bitcoin is still in the midst of an inter-temporal shock since late July, with overall fluctuations ranging between $62,000 and $65,000.

Centralize up and down the clearing blocks.

CoinGlass ' 24-hour liquidation heat attempts to show that the relatively close liquidity above Bitcoin is concentrated around $6.405 million and between $6.47 million and $6.48 million. If the prices are re-established at $64,000, the passive levelling of the empty silo may drive prices closer to these areas.

Stronger liquidity below is concentrated in the range of $6.28 million to $6.29 million, and there are also some areas of succession around $6.22 million to $6.24 million. This means that current prices are located between the upper and lower mobility pools, and short lines are more likely to experience one-off liquidity fluctuations.

  • Attention above $640 million, $648 million, $65,000
  • Below: $6.28 million, $62,000 to $6.25 million
  • If you lose your support, follow up or look down.

Technical indicators remain weak

The solar-line structure shows that bitcoin is still under the key Fabonacci resistance level of $66.46 million. Only this position on the active dayline station could weaken the current weak structure and open up space for further exploration.

With respect to kinetic energy indicators, the Sunline RSI returned to 46.61 below the neutral level of 50; the MACD is also re-emerging, showing a weakening of the rebound energy since the low point at the beginning of July. 4 At the hourly level, short-line trend resistance is close to $64.82 million and short-line repair space remains limited if not recovered.

The chain has a high percentage of losses.

In terms of chain data, analysts refer to CryptoQuant data and state that between 45 and 46 per cent of Bitcoin supplies are currently in an unrealized deficit. This proportion is closer to the holding of currency, rather than the overheating of the market.

The market's next focus remains on the ability of the buyer to hold the $6.33 million and lower support areas of $62,000 to $6.25 million. Short-line pressure would be eased if prices recovered by $6.48 million, and the recovery would be more likely to continue if the follow-up station reached $66.46 million.