And
. Let's write the full content: Bitcoin slipped on Thursday, breaking below a key momentum line as macro data came in softer than expected and spot ETF outflows stretched to a second day. The pullback puts the focus on near-term support, with options positioning turning defensive ahead of August expiry.
Macro data cools rate-hike bets
Thursday's producer price index came in flat month-over-month, missing expectations for a modest gain. Jobless claims also rose, climbing from the prior week's revised figure. The combination nudged traders to trim odds of a September rate hike, with futures now pricing a lower probability than they did a day earlier.
ETF outflows stretch to two days
US spot Bitcoin ETFs posted another day of net outflows on Wednesday, following a similar outflow the day before. Fidelity's FBTC, ARKB, and GBTC were among the funds seeing the largest redemptions. The back-to-back outflows mark a shift from the recent inflow streak, though the totals remain modest relative to the funds' assets.
Technical picture turns defensive
Bitcoin broke below its short-term moving averages, and the technical panel on TradingView is flashing a sell signal. Options positioning has skewed toward downside, with implied volatility clustering around lower strikes ahead of the August expiry. Long-term holder supply fell for the first time this year, even as wallets holding a large amount of Bitcoin hit a yearly high.
LiquidChain presale draws attention
Elsewhere, LiquidChain, a Layer 3 infrastructure project, is in presale, having raised a notable sum so far. The project is selling tokens at a set price, though the presale's end date hasn't been announced.
The immediate question is whether Bitcoin can hold its current support zone. A break below that level could open the door to a move toward lower ground, while reclaiming a key resistance level would flip momentum back to the upside. With the August expiry approaching, options positioning suggests traders are bracing for more volatility.
Bitcoin slipped on Thursday, breaking below a key momentum line as macro data came in softer than expected and spot ETF outflows stretched to a second day. The pullback puts the focus on near-term support, with options positioning turning defensive ahead of August expiry.
Macro data cools rate-hike bets
Thursday's producer price index came in flat month-over-month, missing expectations for a modest gain. Jobless claims also rose, climbing from the prior week's revised figure. The combination nudged traders to trim odds of a September rate hike, with futures now pricing a lower probability than they did a day earlier.
ETF outflows stretch to two days
US spot Bitcoin ETFs posted another day of net outflows on Wednesday, following a similar outflow the day before. Fidelity's FBTC, ARKB, and GBTC were among the funds seeing the largest redemptions. The back-to-back outflows mark a shift from the recent inflow streak, though the totals remain modest relative to the funds' assets.
Technical picture turns defensive
Bitcoin broke below its short-term moving averages, and the technical panel on TradingView is flashing a sell signal. Options positioning has skewed toward downside, with implied volatility clustering around lower strikes ahead of the August expiry. Long-term holder supply fell for the first time this year, even as wallets holding a large amount of Bitcoin hit a yearly high.
LiquidChain presale draws attention
Elsewhere, LiquidChain, a Layer 3 infrastructure project, is in presale, having raised a notable sum so far. The project is selling tokens at a set price, though the presale's end date hasn't been announced.
The immediate question is whether Bitcoin can hold its current support zone. A break below that level could open the door to a move toward lower ground, while reclaiming a key resistance level would flip momentum back to the upside. With the August expiry approaching, options positioning suggests traders are bracing for more volatility.
