Bitcoin’s Oscillation Between $90K and $100K
Bitcoin continues its steady oscillation between $90,000 and $100,000, with current prices sitting at the upper limit of this range. The psychological resistance at $100K has proven difficult to breach, while the $90K support remains firm. This week, we expect Bitcoin to likely pull back toward $90K unless a strong catalyst pushes it beyond the $100K threshold. Traders should remain cautious and monitor crypto prices action for confirmation.
Major U.S. Economic Reports This Week
Economic data in the U.S. will be a major market mover this week. Key inflation reports include:
- Wednesday, December 11: Consumer Price Index (CPI)
- CPI Year-over-Year: Forecasted at 2.7%, slightly up from 2.6%.
- Core CPI Year-over-Year: Expected to ease slightly to 3.2% from 3.3%.
- Insights: These figures will provide a clearer picture of consumer inflation trends and their impact on the broader market.
- Thursday, December 12: Producer Price Index (PPI)
- PPI Year-over-Year: Forecasted at 2.4%, reflecting producer-level inflation.
- Core PPI Year-over-Year: Expected at 3.5%, indicating underlying supply chain pressures.
These reports are critical for shaping Federal Reserve policy and could significantly influence crypto market sentiment.
Token Unlocks to Watch
- Aptos (APT)
- Unlock Date: Wednesday, December 11, 2024
- Tokens Unlocked: 11.31 million APT, representing 2.11% of its circulating supply.
- Market Impact: The substantial unlock could increase liquidity and lead to price volatility, especially if holders choose to sell.
- Axie Infinity (AXS)
- Unlock Date: Friday, December 13, 2024
- Tokens Unlocked: 815,630 AXS, or 0.52% of its circulating supply.
- Market Impact: This smaller unlock is less likely to cause significant market disruption but may introduce mild sell pressure depending on investor sentiment.
FLOKI (MONKY) Airdrop Snapshot
- Snapshot Date: Sunday, December 15, 2024, at 00:00 UTC
- Distribution Ratio: 0.35 MONKY tokens for every 1 FLOKI held.
Anticipation of the MONKY airdrop has already increased interest in $FLOKI. The event is expected to drive demand, although uncertainties in may temper enthusiasm.
Source | X @RealFlokiInu
Conclusion
This week is packed with pivotal events, from Bitcoin’s continued oscillation to significant inflation data, token unlocks, and airdrops. These developments are likely to shape crypto market dynamics, offering both opportunities and risks for traders and investors. However, none of this is financial advice. Always DYOR (Do Your Own Research) before making investment decisions.
To enhance your research, visit blog.millionero.com for insightful articles and updates. Once you’re ready, trade confidently on Millionero, offering seamless spot and futures trading to help you navigate the crypto markets effectively.