Bitcoin News

Story: Bitcoin Hits August Peak at $65,420 as CPI and PPI Data Loom Large

By Julie Binoche

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Yen Intervention Adds Another Variable. The New York Fed stepped into the yen market using the Exchange Stabilization Fund, buying yen to…

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Big Holders Load Up, Small Investors Pull Back. Here's where it gets interesting. On August 9, addresses holding more than 10,000 BTC added 46,420…

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Spot Market Still Quiet — That's a Problem. Price is up. Whale accumulation is up. But the spot market? Still basically asleep.

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Bitcoin punched to a new August high on Sunday. The cryptocurrency hit $65,420, closing the week with real momentum behind it — and traders are now basically holding their breath…

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The Consumer Price Index drops Wednesday. The Producer Price Index follows Thursday. Both carry serious weight right now, because last month's CPI came in surprisingly soft — the…

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Not the only macro factor in play, either.

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The New York Fed stepped into the yen market using the Exchange Stabilization Fund, buying yen to correct what the US Treasury saw as undervaluation.

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Bitcoin's price action is sitting right at a technically sensitive spot. Analyst Michaël van de Poppe has been pointing to bullish signals from both the MACD and the RSI.

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So the setup is there. Whether it fires is another question.

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More context: Brazils Central Bank Hits Large Crypto Transfers With Mandatory 24-Hour Freeze

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Smaller holders did the opposite. Addresses in the 0.1 BTC to 1 BTC range shed roughly 9,700 BTC over the same window. That's a pretty stark split.

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CryptoQuant flagged the contrast as reflecting genuinely different strategies and risk assessments across investor groups. That's probably the honest read.

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Rafael Schultze-Kraft of Glassnode put it plainly: the spot market turnover ratio is at its lowest recorded level.

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Related: Empery Digital Dumps 1,635 Bitcoin for $102M as Collateral Crunch Tightens Grip

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It's the tension at the heart of Bitcoin's current position. The price has momentum. The technicals are pointing up. The big holders are buying.

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