Bitcoin course lingers around $ 114,300 – will there be a breakthrough on 12 August?

The Bitcoin course comes in at $ 114,300 today. This makes it good for an increase of 0.44 percent over the last 24 hours. Ethereum and XRP are doing better today with increases of 1.81 percent and 1.54 percent. Yet there is no real breakthrough for the entire cryptomarkt. The price increases stagnate a bit.

Headwind for the bulls

Bitcoin came from a period when everything seemed to go for the wind. The race made a beautiful new all-time high of 123,300 dollars on July 14, and investors were not worried about anything anymore.

These are often times when the market is extra vulnerable to bad news. Last Friday that moment came in the weak job figures from the United States. Furthermore, there are doubts about economic growth, and to top it all off, inflation is also starting to show up momentum.

For the time being, however, there seems to be a short period in which investors realize that headwind also exists, and that people get some profit off the table. Even in a bull market it is very normal that Bitcoin sometimes goes through a relapse.

In the past, those corrections were even a lot more intense than the course promotion we have seen in recent days. Until this moment, Bitcoin seems to be very strong at a relatively high price level. That indicates that there is sufficient demand to catch the sales pressure.

Waiting on August 12

For the time being, waiting for 12 August seems to be for a potential reversal. Then it is time for the consumer price index (CPI) in the United States. Before that time there is little to nothing exciting on the program in terms of macro-economic figures.

In any case, nothing that is really of sufficient importance to get the markets moving. Ultimately, that is often necessary to have the Bitcoin course the next step, up or down.