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Bitcoin Drops Amid Trump-Harris Debate, Pre-CPI Concerns

Bitcoin fell by 2.2% as market sentiment soured following the US Presidential debate. Combined with pre-CPI price pressure, BTC slipped below $57,000.

• Main Points:

  • Price drop: Bitcoin fell 2.2%, dropping to $56,099 after a $1,000 decline in one hour.

  • Debate impact: The Trump-Harris debate offered no crypto policy support, disappointing bulls.

  • Pre-CPI pressure: Anticipation of the Consumer Price Index (CPI) report adds to sell pressure.

  • Resistance levels: BTC faces resistance at $58,840–$59,200 from key moving averages.

• Detailed Insights:

  • Price drop: Bitcoin slipped to local lows of $56,099 on September 11, with a $1,000 drop in an hour, triggered by a lack of supportive crypto policy remarks during the US Presidential debate.

  • Debate impact: Neither Donald Trump nor Kamala Harris provided clear crypto stances, leading to disappointment among crypto traders and a shift to risk-off sentiment.

  • Pre-CPI pressure: Bitcoin traders are bracing for the August CPI report, with analysts predicting volatility around the inflation print. The market focus has shifted from CPI to unemployment data.

  • Resistance levels: On the 4-hour chart, BTC struggles to break above the 200-period moving averages at $58,840–$59,200, signaling weakness in the short-term momentum.

Related: Bitcoin Speculators Exit as Long-Term Holders Accumulate

Market uncertainty remains high, with CPI and key moving averages playing critical roles in BTC’s next move.

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Bitcoin Short Sellers ‘Likely to Get Burned’ if CPI Meets Expectations

If the upcoming CPI report shows lower-than-expected inflation, Bitcoin short sellers may face a squeeze, triggering a rally. However, a higher CPI could lead to a sell-off.

• Main Points:

  • Short squeeze potential: A lower CPI print could trigger a rally, burning short sellers.

  • Rate cut speculation: Low CPI may spark speculation about a larger Federal Reserve rate cut.

  • Sell-off risk: A higher CPI could trigger a Bitcoin sell-off as inflation surprises markets.

  • Market uncertainty: Open interest in Bitcoin has surged, showing investor indecision.

• Detailed Insights:

  • Short squeeze potential: Analysts suggest that Bitcoin short sellers may face a squeeze if the CPI data comes in lower than expected, sparking a price rally. Pav Hundal, lead analyst at Swyftx, warns that anyone holding short positions could be at risk.

  • Rate cut speculation: A lower CPI could lead to speculation about a larger rate cut from the Federal Reserve, with investors increasingly optimistic about the possibility of a September cut.

  • Sell-off risk: Conversely, if the CPI comes in higher than expected, it could shock the market and trigger a sell-off in Bitcoin and other risk assets.

  • Market uncertainty: Bitcoin open interest has increased by $1.3 billion since September 7, signaling investor uncertainty. If Bitcoin rebounds to $60,000, approximately $1.6 billion in short positions could be liquidated.

Related: Why Bitcoin Is Up Today: Saylor's Confidence and Market Dynamics Drive Prices

Bitcoin's short-term direction hinges on the upcoming CPI data, with both a short squeeze and a sell-off possible based on inflation trends.

Bitcoin Nearing “Grand Finale,” Says Top Trader

Pseudonymous trader HornHairs suggests Bitcoin is approaching a critical turning point, with the market poised to exit the "summer doldrums" and enter a new phase. The end of the bear market may be near.

• Main Points:

  • Approaching grand finale: Bitcoin is nearing a pivotal moment, according to trader HornHairs.

  • 650 days since bear market lows: Bitcoin has been climbing for 650 days, following its 2022 lows.

  • First cycle ATH pre-halving: For the first time, Bitcoin hit new all-time highs before a halving event.

  • Future predictions: Peter Brandt predicts Bitcoin could reach $150,000 by late 2025.

• Detailed Insights:

  • Approaching grand finale: HornHairs believes Bitcoin is close to a “grand finale,” as the market moves out of a stagnant summer period and approaches significant price movements.

  • 650 days since bear market lows: It’s been 650 days since the last bear market lows, and Bitcoin has been in recovery mode ever since. The next major price movements could signal the end of the bear market.

  • First cycle ATH pre-halving: In an unusual development, Bitcoin set new all-time highs before the recent April halving, a first for its historical market cycles.

  • Future predictions: Legendary trader Peter Brandt remains bullish, forecasting that Bitcoin could potentially surge to $150,000 by late 2025.

Related: ETFs, Whales, and Long-Term Holders Buy Bitcoin: Is the Bottom In?

With market trends showing increased optimism, traders are watching closely for Bitcoin’s next major breakout.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results