Benzinga and Yahoo Finance LLC might receive a payment if you make a purchase through some links provided.
Bitcoin (CRYPTO: BTC) is trading around $114,000 this Thursday morning. Market watchers suggest further price increases could be on the horizon, dependent on upcoming inflation figures due later today.
What Happened: Crypto analyst Daan Crypto pointed out that Bitcoin experienced a surge past a significant area of trading activity near $114,000 on Wednesday, following the release of new data regarding US Producer Prices.
This upward movement cleared out a cluster of buy and sell orders, triggering the liquidation of short positions and briefly pushing the price higher. It then stabilized just below the mentioned level.
Trending: Your Last Chance to Invest in Pacaso Before Their Global Expansion — Offer Ends Sept 18
Current charts reveal that the most active buying and selling zones remain concentrated between $111,000 and $114,000, with traders viewing this range as a crucial near-term battleground.
This push higher comes after consistent gains originating from the $110,000 support level, where the market had been steadily gathering strength over the past few days.
This situation unfolds just before the release of the Consumer Price Index (CPI) this Thursday, an event anticipated to bring increased market volatility.
Experts suggest that a clear and sustained price hold above $114,000 could signal a continuation of the upward trend. Conversely, a rejection at that level may send Bitcoin back down towards the $111,000 area.
TheKingfisher, an expert on liquidation levels on platform X, highlighted that current liquidity maps indicate a concentration of orders slightly above the current price, potentially acting as a magnet for further price movements.
See Also: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
Bitcoin is once again struggling around the $113,000 mark, a price that has resisted upward movement for several weeks. Analysts believe this resistance is weakening with each attempt to break through, and a daily close above this level could pave the way towards $116,000.
On-chain data sourced from Glassnode indicates the cryptocurrency is presently just below the MVRV +0.5σ band, near the $115,000 price point.
Past market cycles have shown that this situation can sometimes lead to a turning point, with prolonged periods of sideways trading often followed by an upward trend after the resistance is finally broken.
Since dropping from a peak of $124,000, Bitcoin has remained within a narrow range of $110,000 to $113,000 since late August. Chart analysis suggests that each subsequent pullback following a rejection at $113,000 has been smaller than the previous one.
Market analyst Rekt Capital has observed that this pattern indicates sellers are losing their grip, while buyers are consistently increasing their positions.
He commented that “Bitcoin is trying to break out. A Daily Close and/or retest of the ~$113k region (red) would ensure additional trend continuation to the upside.”
With vital US economic statistics coming out this week, traders are closely monitoring the situation. These figures could determine whether Bitcoin pushes higher or falls back into its recent trading range.
Trending Now:
Building a robust financial portfolio involves looking beyond just one type of asset or market trend. Economic environments shift, some sectors outperform others, and no single investment performs well in all situations. Therefore, many investors are diversifying using platforms providing access to real estate, fixed-income assets, qualified financial advice, precious metals, and self-managed retirement plans. Diversifying across multiple asset types makes it simpler to manage risk, obtain stable returns, and build long-term wealth not solely dependent on a single firm or industry.
With support from Jeff Bezos, Arrived Homes makes real estate investment accessible with minimal barriers. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This permits smaller investors to diversify into the property market, collect income from rentals, and build wealth over time without direct property management.
For those looking for stable returns comparable to fixed-income investments without complex financial strategies, Worthy Bonds offers SEC-qualified, interest-bearing bonds starting at just $10. Investors earn a reliable 7% yearly return, with funds lent to small U.S. businesses. The bonds are liquid, allowing investors to redeem them at any time, making them appealing to those who seek consistent, passive income.
Self-directed investors wishing to gain more control over their retirement funds might consider IRA Financial. This platform permits you to use a self-directed IRA or Solo 401(k) to invest in alternative assets such as real estate, private equity, or even crypto. This gives individuals more flexibility than traditional retirement accounts, permitting them to build diverse portfolios tailored to their long-term investment objectives.
Range Wealth Management provides a modern, subscription-based approach to financial planning. Instead of fees based on assets, the platform offers flat-fee plans that include unlimited access to fiduciary advisors along with AI-powered planning tools. Investors can easily link their accounts without moving any assets, and higher-tier plans unlock more advanced support related to taxes, property investments, and estate planning. This model is especially valuable for high-income professionals looking for comprehensive advice and predictable expenses.
For those who are concerned about inflation or want to protect their investments, American Hartford Gold offers a simple way to buy and hold physical gold and silver within an IRA or direct delivery. With a minimum investment of $10,000, this platform caters to individuals seeking to preserve wealth through precious metals and diversify their retirement investments. It’s suitable for conservative investors desiring tangible assets that traditionally hold their value in uncertain markets.
This article Bitcoin At $114,000 Ahead Of Inflation Data: Here’s How High It Could Go originally appeared on Benzinga.com
