The expert predicts an increase in the price of BTC

Capriole Investments, founder of the Capriole Investments Foundation, Charles Edwards predicted the increase in the price of the first cryptocurrency within a week. The reason he called a surge of purchases by institutional investors on the Coinbase exchange.

According to Edwards, on August 12, 75% of the volume of trading on the platform was on whales. He noted that all values above this mark historically led to price increase in a week.

Capriole analysts calculated that excess demand from major players this week six times exceeded the daily issue of new bitcoins (about 450 BTC).

Only corporate holders on August 12 added 810 BTC reserves. A day earlier, the indicator was almost 3000 BTC.

The activity of investors coincided with the release of inflation in the United States, which turned out to be lower than expectations. According to Edwards, this strengthened the confidence of the market in reducing the percentage rate of the Fed’s next month.

He added that a decrease in bets increases the attractiveness of risk assets, and Bitcoin historically is a “fastest horse”.

The CME FedWatch Tool show that market participants expect a decrease in the indicator by 0.25% in September.

The QCP Capital noted that the market has already laid in prices a decrease in rates by about 0.6% in 2025. Further signals about the regulator plans are expected from the symposium in Jackson-Houl on August 21-23.

Recall, on August 12, the price of digital gold fell by 2%. The analyst and founder of MN Trading Michael Van de Poppe called this movement “rather ugly day candle” and allowed a decrease in quotes to $ 116,800.

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Source: Cryptocurrency

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