The Bitcoin (BTC) price has been faced with a slight resistance of around $ 110,300 in the last three days. The flagship piece has formed a short-term lower feeling, coinciding with the trade agreement between the United States and China.
After having experienced a significant overhaul in recent weeks, the closure of American-Chinese pricing negotiations has sparked a short-term-new-new story on Bitcoin. In addition, the price of the BTC fell by more than 1% in the last 24 hours to exchange around $ 108,728 on Wednesday June 11, during the American session of the middle of the North.
Key fundamental aspects of Bitcoin to be considered before the end of this week
American PPI data Thursday
President Donald Trump put pressure on the federal reserve to reduce interest rates to correspond to the EU market. On Wednesday, the Bureau of Labor Statistics announced a cooler inflation than expected thanks to the data from the IPC.
Thursday, the same agency will publish the PPI data, which show the variation in the price of finished goods and services over time. With the FOMC declaration which takes place next week, the Bitcoin price will continue to undergo greater volatility.
US SPOT BTC ETF cash flow
American Bitcoin ETF issuers have been a major supporter of the BTC network in the past year. As Coinpedia has reported it in the past, the FNB BTC BTC Spot US have been the fastest growth investment vehicle in the 21st century to currently have total net assets of around $ 132 billion.
On Tuesday, the IBIT of Blackrock led in a net cash entry of around $ 336 million, followed by the FBTC of Fidelity with a net cash entry of approximately $ 67 million.
What is the next step for BTC Price Action?
Within the weekly time, the overview of a bullish feeling for the price of the BTC is obvious, in particular after a solid rebound in the level of support of around $ 103,000 in the last 14 days.
Within the period of one hour, BTC Price has lost a bullish momentum since it reached a local summit of around $ 110,300 at the start of this week. The one hour relative resistance index (RSI) formed a downward divergence. With the MacD line trying to cross below the zero line, in the middle of the growing drop -down histograms, the BTC price faces a short -term lower feeling in the coming days.
However, the level of support established around $ 108.7,000 could last in the coming days, in the midst of high impact news and trigger a new rally to a new summit of all time beyond $ 112,000.
