Bitcoin bounces on USD $ 113,000 after unexpected IPP cooling in the US
By Hannah Pérez
Bitcoin rebota sobre los USD $113.000 a medida que la lectura del IPP desafía las expectativas y alivia presiones. El mercado está atento a los datos económicos de EE. UU., a la expectativa de un recorte de tasas la próxima semana.
***
- Lectura inesperadamente débil del IPP impulsa al mercado de criptomonedas.
- Bitcoin rebota sobre USD $113.000 tras reverso motivado por terribles datos de empleo.
- Una revisión histórica en las nóminas estadounidenses presionó al mercado el martes.
- Los inversores están atentos a los datos económicos, con expectativas de recorte de tasas.
- La decisión de la FED la próxima semana será clave para Bitcoin y el mercado.
The cryptocurrency market is showing signals of a rapid recovery this Wednesday after the publication of unexpectedly positive data of the Producer Price Index (IPP) in the United States.
Bitcoin (BTC), the main cryptocurrency, climbed up to USD $ 113,700, marking a 1.1% increase in the last 24 hours, according to data from Coingcko. This rebound occurs after a turbulent Tuesday, when a historical review of US payroll pressed the markets down, leading to Bitcoin to retreat below USD $ 111,000.
Weakest IPP of the expected drives the market
The US Department of Labor.
This decrease follows a downward increased 0.7% in July. The basic IPP, which excludes volatile food and energy prices, also registered a 0.1%drop in a growth expectation of 0.3%. However, by excluding food, energy and commerce, the IPP showed a 0.3%increase, as reported CNBC.
This unexpected cooling in producer prices was interpreted by investors as a sign of relief in inflationary pressureswhich immediately favored cryptocurrency markets.
The widest cryptocurrency market also showed signs of recovery, with a total capitalization that increased 0.7% in the last 24 hours, according to data from Coingcko. Ether (Eth) advanced 1.4%, reaching USD $ 4,390, while Solarium (Sol) registered a gain greater than 3%, quoting USD $ 224, its highest level since the beginning of February.
Expectations of a feat cut of the Fed
IPP data arrive at a crucial moment, since investors are attentive to Signals on monetary policy decisions of the US Federal Reserve (Fed)waiting for a possible cut this month.
Tuesday’s payroll review, which eliminated 911,000 jobs reported for the year until March 2025, had fueled the fears of a weaker economy and reinforced the expectations of a rate cut in the next meeting of the Fed scheduled for September 17. According to the tool Fedwatch of CME, the markets allocate a 91% probability to a cut of 25 basic points, with 16% betting on a more aggressive cut of 50 basic points.
“IPP cooling suggests that inflationary pressures could be moderating, which gives more room for Fed to relax its monetary policy”, Said Marc Chandler, head of chief of Bannockburn Global Forexin an interview with COINDESK. “This is positive for risk assets such as Bitcoin, which tend to benefit from lower interest rates”
Bitcoin on USD $ 113,000 in key data medium
The positive cryptocurrency market reaction occurs after a volatile Tuesday, when the news that the average monthly growth in the US. UU. It was approximately half of the estimated, according to a review of the Labor Department, caused that Bitcoin It was strongly reversed towards a local minimum of USD $ 110,800. That adjustment, which marked the greatest correction of payrolls in history, also impacted gold, which had reached a historical maximum of USD $ 3,700.
The market remains attentive to the next inflation data, particularly the consumer price index (CPI) that will be published on Thursday. A lower monthly inflation reading could further reinforce the expectations of feat cuts, a measure that has historically benefited risk assets such as cryptocurrencies.
However, as Greg Magadini warned of Amberdata to COINDESKa Discrepancy between market expectations and Fed decisions could trigger a massive sale.
The unexpected fall of the IPP in August has provided an impulse renewed to the crypto market after the turbulence caused by the employment data on Tuesday. Meanwhile, investors attentive to the next IPC data and the decisions of the FED, where a combination of softer inflation data and the bullish seasonality could lay the foundations for a positive year closure.
Bitcoin It remains at USD $ 113,700 while the market evaluates the prospects for a more favorable monetary policy. Despite the progress, the price of the asset is still 8.6% below its historical maximum of USD $ 124,000 reached in August.
Article written with the help of AI, edited by Diariobitcoin
Image of Unspash
WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.
Subscribe to our newsletter
