Bitcoin Price Analysis: BTC Inches Higher As Traders Await CPI, PPI Data

Bitcoin (BTC) is up almost 1% during the ongoing session and nearing the key $113,000 resistance ￰0￱ expect the flagship cryptocurrency to face volatility following the release of the US Consumer Price Index (CPI) and Producer Price Index (PPI) ￰1￱ dipped towards $110,000 after the Bureau of Labor Statistics revised the Current Employment Statistics (CES) national benchmark and removed close to a million ￰2￱ Goes After Bitcoin (BTC) Linked With SIM Swap Scheme The United States Department of Justice (DOJ) prosecutors have initiated a civil forfeiture action targeting a specific crypto wallet holding 117 ￰3￱ to prosecutors, the assets are the proceeds from a series of SIM swap attacks targeting five victims between October 2022 and March ￰4￱ Attorney Jeanine Ferris Pirro stated that the perpetrators moved the BTC through a maze of wallets before consolidating all the stolen funds into a single account that funded an account on a popular online ￰5￱ revealed that the attackers used SIM swaps, bypassing standard security measures to gain control over their target’s mobile ￰6￱ stolen numbers allowed them to intercept two-factor authentication codes and log in to the victim’s crypto wallets, transfer assets to accounts under their ￰7￱ added that the attackers attempted to hide the origin of the funds by recycling the stolen assets through multiple deposits and withdrawals at the online casino.

“Many of these transactions were circular in that they eventually returned funds to their original source, and consistent with money laundering utilized to 'clean' proceeds of criminal activity.” Metaplanet Announces $358 Million Share Offering To Buy BTC Japanese hospitality and real-estate group turned Bitcoin treasury company Metaplanet has announced plans to issue 385 million new shares to expand its Bitcoin holdings and related ￰8￱ company will sell the shares through an international offering outside Japan at 533 yen ($3.75) ￰9￱ offering will allow the company to raise 212.9 billion yen ($1.44 billion). The issue price is a 9.9% discount on Metaplanet’s Tuesday closing price of 614 ￰10￱ payment date has been set for September 16, when investors and underwriters will transfer the funds to the ￰11￱ new shares will be credited to new investors on September ￰12￱ stated the funds will be used to purchase additional Bitcoin between September and ￰13￱ company plans to use BTC as a hedge against the depreciation of the Japanese yen and expand its Bitcoin income-generating business.

Metaplanet’s latest move comes after a series of purchases that have made it one of the largest corporate holders of Bitcoin, with 20,137 BTC on its ￰14￱ company’s stock surged over 150% in the past year thanks to its Bitcoin strategy. However, shares traded in Japan have fallen sharply in recent ￰15￱ Treasury Firms Under Pressure Metaplanet’s Bitcoin strategy has encountered headwinds after an initial burst of ￰16￱ slowdown has forced the company to seek fresh funding sources from global ￰17￱ is one of the primary reasons behind its latest share ￰18￱ have warned that declining premiums could induce volatility for Bitcoin treasury companies, such as ￰19￱ premium gap is the difference between a Bitcoin treasury firm’s share price and its net asset value (NAV).

Public Bitcoin treasury companies hold over 1 million BTC , and have also begun expanding into ￰20￱ (BTC) Price Analysis Bitcoin (BTC) has made a strong bounce during the ongoing session and has crossed the key $113,000 ￰21￱ flagship cryptocurrency is up over 1%, trading around $113,150. A decisive close above this level could signal a potential rally ahead. However, the upcoming release of the US Producer Price Index (PPI) and Consumer Price Index (CPI) data could introduce fresh volatility into BTC’s price ￰22￱ has registered a notable decline in selling pressure this week, creating higher lows since Sunday’s low of $110,200. A weak US employment report on Friday indicated a softening labor market, with markets pricing in three interest rate cuts by the Federal Reserve by the end of the year.

Meanwhile, the US Bureau of Labor Statistics (BLS) reported that a preliminary revision of the Current Employment Statistics (CES) national benchmark to total nonfarm employment was -911,000 for the 12 months through March ￰23￱ CME Group FedWatch tool is showing a 91.8% possibility of a 25 bps rate cut by the Fed in September’s ￰24￱ is also a small possibility of a 50 bps rate cut. A rate cut could boost risk appetite and boost recovery in assets like BTC . A federal judge has also blocked President Trump from removing Federal Reserve governor Lisa Cook, further easing market ￰25￱ registered a sharp drop on Friday (August 29), dropping nearly 4% to $108,378.

The price recovered on Saturday, rising 0.41%, but was back in the red on Sunday, falling 0.53% to settle at 108,247. Price action was positive on Monday as BTC rose almost 1% to cross $109,000 and settle at $109,240. Bullish sentiment intensified on Tuesday as the price rallied, increasing 1.84% to cross $111,000 and settling at $111,247. BTC posted a marginal increase on Wednesday, rising 0.46% to $111,756.