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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-ethereum-lead-short-term-rally-as-investors-await-us-ppi-data/" data-wpel-link="internal">Bitcoin and Ethereum Lead Short-Term Rally as Investors Await US PPI Data</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/cryptocurrency-market-faces-significant-decline/" data-wpel-link="internal">cryptocurrency market</a> is preparing for the release of US PPI <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> today, with Bitcoin (BTC) and Ethereum (ETH) leading a strong short-term rally, indicating renewed investor confidence. Bitcoin’s price is approaching the $60,000 level, while Ethereum and other altcoins have seen even larger gains, with Ethereum rising over 4% in the last 24 hours.</p> 
<h2 style="text-align: justify" id="strong-all-eyes-on-today-s-ppi-data-in-the-cryptocurrency-market-strong"><strong>All Eyes on Today’s PPI Data in the Cryptocurrency Market</strong></h2> 
<p style="text-align: justify">The cryptocurrency market has been active recently, following significant liquidations. Data shows over $177 million in liquidations within 24 hours, including $91 million in short positions and $86 million in long positions. The liquidations in short positions are seen as a preemptive reaction to the expected 0.2% increase in PPI data for July, similar to the 0.2% increase observed in the previous month.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-379244" src="https://coin-turk.com/wp-content/uploads/2024/08/Kripto-Para-ABD-Enflasyon.png" alt="" width="651" height="171"></p> 
<p style="text-align: justify">Inflation data could influence the Fed’s decision on whether to cut <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> in September, so investors are closely monitoring the data. Historically, such macroeconomic data has impacted the cryptocurrency market, with altcoins showing high sensitivity to these figures.</p> 
<h2 style="text-align: justify" id="strong-the-rally-may-not-be-sustainable-strong"><strong>The Rally May Not Be Sustainable…</strong></h2> 
<p style="text-align: justify">Despite the positive momentum, technical indicators suggest that this rally may not be sustainable. Last weekend, a Death Cross signal appeared on Bitcoin’s price chart, indicating a potential downward trend. Some analysts warn that Bitcoin could fall below $50,000 again before starting its next bull run.</p> 
<p style="text-align: justify">Ethereum’s current price of $2,661 reflects a 4.70% increase, with a market cap of $320 billion. However, concerns about the sustainability of this rally persist. Large Ethereum whale transfers related to ICO-era holdings have raised doubts about the stability of the altcoin king’s market, with some fearing that today’s gains might be a temporary “dead cat bounce.”</p> 
<p style="text-align: justify">As the market awaits today’s PPI data and tomorrow’s CPI data, the coming days will be crucial in determining whether the rally in the cryptocurrency market marks the beginning of a sustained upward trend or a temporary response to short-term market dynamics.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-and-ethereum-lead-short-term-rally-as-investors-await-us-ppi-data/" data-wpel-link="internal">Bitcoin and Ethereum Lead Short-Term Rally as Investors Await US PPI Data</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-and-ethereum-lead-short-term-rally-as-investors-await-us-ppi-data/" data-wpel-link="internal">Bitcoin and Ethereum Lead Short-Term Rally as Investors Await US PPI Data</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin and Ethereum Lead Short-Term Rally as Investors Await US PPI Data

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