Bitcoin price movement ($BTC )
Over the next 24 hours, it is projected to consolidate and is expected to trade within the range of $76,000 to $78,000), with the current price positioned around $76,700 – $77,154. The market is currently in a super-alert (wait-and-see) condition and tends to be defensive due to several strong global macroeconomic sentiments.
📉 Technical Movement Projection (Next 24 Hours)
Key Support Zone ($75,700 – $76,000): This level is Bitcoin’s closest line of defense. If the price can hold and bounce (rebound) from this area, BTC has a chance to climb back toward the $78,000 area.
Correction Risk ($73,000): If selling pressure continues to build and the $75,700 support level is breached, the most likely path for Bitcoin is a deeper correction toward $73,000.
🔎 Main Factors Behind Current Movement
Awaiting the Release of US CPI Data (Tonight): The biggest catalyst over the next 24 hours is the release of the US Consumer Price Index (CPI) for August at 19:30 WIB. This consumer inflation data will determine the direction of The Fed’s interest-rate policy at its upcoming meeting on September 15–16. The market is likely to hold off (wait-and-see) before this data is released.
Rise in US PPI Data and Inflation Pressure: Previously, US Producer Price Index (PPI) data showed an increase of up to 5.4% year-over-year (YoY). A figure higher than market expectations has raised concerns that inflation remains strong, narrowing the room for The Fed to loosen interest rates.
Outflows from Spot Bitcoin ETFs: Short-term price pressure is compounded by institutional fund activity through US Spot Bitcoin ETFs, which have recorded net outflows for two consecutive days.
Global Oil Price Surge and Bond Yield Spike: Geopolitical tensions heating up in the Middle East have boosted global crude oil prices (WTI breaking above $100 per barrel). Higher energy prices automatically lift the yield on the US 10-year Treasury to around 4.92%, diverting liquidity away from risk assets.
Over the next 24 hours, it is projected to consolidate and is expected to trade within the range of $76,000 to $78,000), with the current price positioned around $76,700 – $77,154. The market is currently in a super-alert (wait-and-see) condition and tends to be defensive due to several strong global macroeconomic sentiments.
📉 Technical Movement Projection (Next 24 Hours)
Key Support Zone ($75,700 – $76,000): This level is Bitcoin’s closest line of defense. If the price can hold and bounce (rebound) from this area, BTC has a chance to climb back toward the $78,000 area.
Correction Risk ($73,000): If selling pressure continues to build and the $75,700 support level is breached, the most likely path for Bitcoin is a deeper correction toward $73,000.
🔎 Main Factors Behind Current Movement
Awaiting the Release of US CPI Data (Tonight): The biggest catalyst over the next 24 hours is the release of the US Consumer Price Index (CPI) for August at 19:30 WIB. This consumer inflation data will determine the direction of The Fed’s interest-rate policy at its upcoming meeting on September 15–16. The market is likely to hold off (wait-and-see) before this data is released.
Rise in US PPI Data and Inflation Pressure: Previously, US Producer Price Index (PPI) data showed an increase of up to 5.4% year-over-year (YoY). A figure higher than market expectations has raised concerns that inflation remains strong, narrowing the room for The Fed to loosen interest rates.
Outflows from Spot Bitcoin ETFs: Short-term price pressure is compounded by institutional fund activity through US Spot Bitcoin ETFs, which have recorded net outflows for two consecutive days.
Global Oil Price Surge and Bond Yield Spike: Geopolitical tensions heating up in the Middle East have boosted global crude oil prices (WTI breaking above $100 per barrel). Higher energy prices automatically lift the yield on the US 10-year Treasury to around 4.92%, diverting liquidity away from risk assets.