According to our institutional research, the recent Personal Consumption Expenditures (PCE) data release has triggered a significant market reaction, with Bitcoin plummeting to 58,000 USD and activating 212 million USD in long position liquidations. This drastic move was sparked by the PCE index reaching a 3-year high of 4.1%, surpassing the Federal Reserve's 2% target and confirming persistent inflationary pressures.
Technical Viewpoint
The current price action is characterized by a liquidity sweep, with the order block at 61,000 USD being broken, and the funding rates indicating a bearish sentiment. [Insert Volume Profile Chart Here] illustrates the significant volume traded at the 58,000 USD level, which is now acting as a point of control (POC). The risk of a further downturn is elevated, with the potential for a retest of the 55,000 USD support level.
On-Chain/Fundamental Reality
The on-chain data reveals a significant increase in whale inflows, with [Insert Whale Inflow Data Here] indicating a substantial amount of capital being deployed in the market. However, this inflow is being offset by the persistent inflationary pressures, which are eroding the purchasing power of consumers and reducing the appeal of risk assets. The core PCE index, which excludes food and energy prices, has increased by 3.4%
https://halvingjobs.com/vi/crypto-news/bitcoin-lao-doc-ve-58000-usd-khi-lam-phat-pce-my-cham-dinh-3-nam-kich-hoat-thanh-ly-212-trieu-usd-vi-the-long-1782409759https://halvingjobs.com/vi/crypto-news/bitcoin-lao-doc-ve-58000-usd-khi-lam-phat-pce-my-cham-dinh-3-nam-kich-hoat-thanh-ly-212-trieu-usd-vi-the-long-1782409759
Technical Viewpoint
The current price action is characterized by a liquidity sweep, with the order block at 61,000 USD being broken, and the funding rates indicating a bearish sentiment. [Insert Volume Profile Chart Here] illustrates the significant volume traded at the 58,000 USD level, which is now acting as a point of control (POC). The risk of a further downturn is elevated, with the potential for a retest of the 55,000 USD support level.
On-Chain/Fundamental Reality
The on-chain data reveals a significant increase in whale inflows, with [Insert Whale Inflow Data Here] indicating a substantial amount of capital being deployed in the market. However, this inflow is being offset by the persistent inflationary pressures, which are eroding the purchasing power of consumers and reducing the appeal of risk assets. The core PCE index, which excludes food and energy prices, has increased by 3.4%
https://halvingjobs.com/vi/crypto-news/bitcoin-lao-doc-ve-58000-usd-khi-lam-phat-pce-my-cham-dinh-3-nam-kich-hoat-thanh-ly-212-trieu-usd-vi-the-long-1782409759https://halvingjobs.com/vi/crypto-news/bitcoin-lao-doc-ve-58000-usd-khi-lam-phat-pce-my-cham-dinh-3-nam-kich-hoat-thanh-ly-212-trieu-usd-vi-the-long-1782409759