BTC breaks through the $122000 mark

OKX-BTC/USDT is currently trading at $121484, with a 5-minute drop of 0.00%. Please pay attention to market fluctuations.

According to @ whale.alert monitoring, approximately 30564 Ethereum tokens (worth approximately $130 million) were transferred from unknown wallets to Ceffu, an institutional custody platform under Binance.

On August 11th, the US dollar fell slightly but still maintained a narrow range of fluctuations, and the market awaited the release of the US CPI data on Tuesday. Previously, the US dollar weakened due to weak employment data and personnel changes at the Federal Reserve. Analysis suggests that CPI data may reveal the impact of tariffs on inflation, and changes in core commodity inflation are of great concern.

According to a report by Golden Finance, Matrixport released today's analysis, stating that the price of Ethereum has broken through the $4000 mark, reaching a new high since the end of 2021. The increase in institutional buying and favorable regulatory conditions have become the main driving factors. On chain data shows that the daily transaction volume exceeds 1.8 million, and over 30% of the supply has been pledged. The recent ruling by the US Securities and Exchange Commission (SEC) that liquid collateral tokens are not classified as securities has accelerated the layout of some listed companies. The total value of Ethereum held by institutions has reached $3.5 billion, an increase of nearly ten times year-on-year. The market is focusing on the next resistance level of $4362, with the historical high of $4892 still being the final target.

HTX Research pointed out that Trump nominated Stephen Milan as a member of the Federal Reserve Board, strengthening expectations of loose policies and driving a rebound in risk assets such as Bitcoin. This week, the market is paying attention to the July CPI, PPI, and retail sales data. Inflation exceeding expectations may suppress the cryptocurrency market, while weak retail sales support the rise of risk assets. In addition, the meeting between Trump and Putin on August 15th may affect market sentiment. The price of Bitcoin may fluctuate with data, so be alert to the risk of a pullback.