Bitcoin Price Slips To $57K Amid Positive CPI Report, But Experts Say This Olympic Meme Coin Might 10X

The Bitcoin value jumped 2% within the final 24 hours to commerce at $57,986 as of 03:49 a.m. EST on buying and selling quantity that surged 23% to $34 billion.

The BTC value drop coincides with the discharge of July’s constructive U.S. Shopper Worth Index (CPI). The CPI got here in at 2.9%, which is beneath expectations and the bottom charge since 2021. The declining inflation will increase the probabilities of the Federal Reserve chopping rates of interest in September.

With the CPI report, numerous buyers proceed to anticipate a value rally throughout digital property within the coming weeks.

Bitcoin Worth Goals For A Rebound

The Bitcoin value’s motion from July to the start of August fashioned a rounding prime sample, which allowed the worth to drop to as little as $49,000, in line with knowledge from GeckoTerminal.

BTC then rebounded to the $62,400 stage and has since been buying and selling inside a symmetrical triangle.

The BTC value bulls intention for a bullish rally above the triangle, however nonetheless trades beneath each the 50-day and 200-day SMAs, which now act because the instant resistance ranges at $61,674 and $62,457 respectively.

Furthermore, the Relative Power Index (RSI) is presently dropping in direction of the oversold stage, presently at 42, to point that the asset is now undervalued.

With the crypto presently undervalued, consumers could begin shopping for the asset. If the shopping for intensifies, the worth of Bitcoin could soar to a goal of $68,000.

Nonetheless, if the bears breach the $57,000 resistance, BTC might plunge again to the $55,000 main assist zone.

Because the BTC value goals for a bullish rally, the brand new meme coin, The Meme Video games ($MGMES), is capturing buyers’ consideration, having garnered over $365K.

In line with Jacob Bury, a well-liked crypto analyst on YouTube, $MGMES has the potential to surge 10X after its launch.

The Meme Video games Presale Blasts Previous $365K – Greatest Crypto To Purchase Now?

The M͏eme Ga͏mes͏ is an ͏innova͏tive͏ professional͏ject tha͏t combines the joy of the Olympics wit͏h t͏he whim͏s͏ical world of͏ mem͏e cash͏. It provides cr͏ypt͏o e͏nthus͏iasts a͏ likelihood to interact in a compet͏itiv͏e, fun-fille͏d presale occasion ͏the place contributors stand to win subst͏antial toke͏n bon͏makes use of.

The con͏c͏ept ͏r͏evolves aro͏un͏d widespread me͏m͏e characte͏rs competing f͏or ͏go͏ld, mirroring th͏e spirit o͏f th͏e simply concluded 2024 Olymp͏ics.

That is what occurs when $TURBO has one too many espresso’s. ☕️ #Paris2024 #Crypto #DOGE #BRETT pic.twitter.com/TngVhXoMvE

— The Meme Video games (@MemeGames2024) August 8, 2024

Right here, buyers assist a meme character of their alternative, which acts as an athlete competing within the blockchain model of the Olympics. Their wins will earn their backers a 25% bonus.

As a token holder, you’ll be able to earn passively by means of the mission’s staking mechanism. All you must do is purchase and stake $MGMES for an annual share yield (APY) of 563%.

You should purchase $MGMES tokens now for $0.00925 every. With a value hike coming in about 4 days, purchase quickly to lock in the most effective deal.

Buy $MGMES from the official web site right here utilizing ETH, BNB, USDT, or a financial institution card.

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