$XAU July CPI Cools to 3.4%, Gold Rises 0.5% While Bitcoin Lacks Capitulation Signal
July CPI rose 0.1% month over month, bringing annual inflation down to 3.4% from 3.5%, driven largely by a 2.9% drop in gasoline prices.
🔸 CME FedWatch indicates a 61.9% probability that the Fed will hold interest rates steady in September. Gold edged up to ~$4,436/oz.
🔸 CryptoQuant’s aNUPL metric shows long-term investors facing deeper losses than the market average a pattern seen in December 2018 and November 2022 that typically signals a market bottom.
🔸 $BTC is currently trading around $64,160, roughly 50% below its cycle peak.
👉 Cooling CPI is positive news for risk assets, yet Bitcoin has not shown signs of investor "capitulation" (panic selling) to confirm a bottom. Analysts suggest another leg down might be necessary and that the next CPI report due before the Fed's September 16 decision will be the decisive milestone. Meanwhile, gold is reacting more positively.
💬 Do you think Bitcoin needs another "capitulation" event to hit its cycle bottom?
News is for reference, not investment advice. Please read carefully before making a decision.
July CPI rose 0.1% month over month, bringing annual inflation down to 3.4% from 3.5%, driven largely by a 2.9% drop in gasoline prices.
🔸 CME FedWatch indicates a 61.9% probability that the Fed will hold interest rates steady in September. Gold edged up to ~$4,436/oz.
🔸 CryptoQuant’s aNUPL metric shows long-term investors facing deeper losses than the market average a pattern seen in December 2018 and November 2022 that typically signals a market bottom.
🔸 $BTC is currently trading around $64,160, roughly 50% below its cycle peak.
👉 Cooling CPI is positive news for risk assets, yet Bitcoin has not shown signs of investor "capitulation" (panic selling) to confirm a bottom. Analysts suggest another leg down might be necessary and that the next CPI report due before the Fed's September 16 decision will be the decisive milestone. Meanwhile, gold is reacting more positively.
💬 Do you think Bitcoin needs another "capitulation" event to hit its cycle bottom?
News is for reference, not investment advice. Please read carefully before making a decision.