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Bitcoin deepens its decline, causing concern for the uptrend

The crypto market continued its decline on Monday after a pause over the weekend. The total capitalisation fell back to $3.88 trillion, reaching its lowest level in more than two weeks. As expected, altcoins are falling the hardest, with Ethereum and XRP losing about 5% in the last 24 hours, twice as much as Bitcoin. The crypto market has returned to the area that acted as resistance in July. Will it become support this time?

Bitcoin fell to $115K, the lowest level in the last 11 days. It is now testing the 50-day moving average, which has been the bullish trend line since April. A consolidation below it will sharply increase the chances of a deeper correction, and a failure below $112K β€” the area of recent lows β€” will confirm the correction, opening the potential for a decline to $105-107K.

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The calm decline in oil prices continues

There are signs that oil prices are attempting to bottom out at around $61 per barrel for WTI and $65 per barrel for Brent. In the middle of last week and at the start of trading on Monday, local lows were touched, last seen in early June. However, the local rebound does not look convincing, indicating instead a pause in the decline within the downward movement inside a two-year descending channel.

Fundamental data from the US also remained largely unchanged. The number of oil rigs rose to 412, compared to 411 and 410 in the last couple of weeks.

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πŸ‡ΊπŸ‡Έ US pre-market

πŸ“‰ The US stock market is experiencing negative dynamics in pre-market trading.

In the electronics sector, NVIDIA (NVDA) shares are down -0.26%, while Apple (AAPL) shares are losing -0.19%.

In the Financial sector, Berkshire Hathaway (BRK.B) shares are up +0.10%, while JPMorgan Chase (JPM) shares are down -0.17%.

In the Consumer Services sector, McDonald's (MCD) shares are up +0.07%, while Disney (DIS) shares are down -0.06%.

The prevailing decline in many of the largest companies indicates cautious sentiment, which could trigger capital outflows from the market and put pressure on the US dollar.
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The eurozone’s trade surplus fell sharply on exports

Tariffs led to volatility in foreign trade indicators sparing Europe. The eurozone's trade surplus fell to €7 billion in June. Adjusted for seasonal factors, the surplus is even lower at €2.8 billion, the lowest since May 2023, when Europe suffered from soaring energy prices and the rejection of Russian supplies, which made logistics more expensive.

In January-March, monthly exports added more than 10% to the average levels of the previous two years, fuelling a temporary surge in the surplus. Now it has returned to the norm of recent years. However, imports have grown despite the decline in energy prices.

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πŸ—“ Economic Calendar at 2025/08/19 (GMT)

12:30 πŸ‡ΊπŸ‡Έ Building Permits β€” Exp: 1390K Actual: 1354K | -2.8%

12:30 πŸ‡ΊπŸ‡Έ Housing Starts β€” Exp: 1290K Actual: 1428K | 5.2%

12:30 πŸ‡¨πŸ‡¦ ⚑️ Consumer Price Index β€” Exp: 0.4% | 1.7% Actual: 0.3% | 1.7%

12:30 πŸ‡¨πŸ‡¦ Core CPI β€” Exp: 0.4% Actual: 0.1% | 2.6%

12:30 πŸ‡¨πŸ‡¦ Common Core CPI β€” Exp: 2.7% Actual: 2.6%

12:30 πŸ‡¨πŸ‡¦ Trimmed Core CPI β€” Exp: 3.0% Actual: 3.0%

12:30 πŸ‡¨πŸ‡¦ Median Core CPI β€” Exp: 3.1% Actual: 3.1%

14:00 πŸ‡ΊπŸ‡Έ FOMC Member Michelle W. Bowman Speaks


[Updated in real time]
FxPro pinned Β«πŸ—“ Economic Calendar at 2025/08/19 (GMT) 12:30 πŸ‡ΊπŸ‡Έ Building Permits β€” Exp: 1390K Actual: 1354K | -2.8% 12:30 πŸ‡ΊπŸ‡Έ Housing Starts β€” Exp: 1290K Actual: 1428K | 5.2% 12:30 πŸ‡¨πŸ‡¦ ⚑️ Consumer Price Index β€” Exp: 0.4% | 1.7% Actual: 0.3% | 1.7% 12:30 πŸ‡¨πŸ‡¦β€¦Β»
Cryptocurrency market nervousness grows

The crypto market cap fell by another 0.4% to $3.87 trillion. The market is plunging below the former resistance level, raising speculators' fears of a possible major correction towards $3.6 trillion.

Bitcoin fell to $114.7k, rolling back to levels seen two weeks ago and below the medium-term trend line, which is a 50-day moving average. This dynamic reinforces fears of a deeper correction, which could affect the entire crypto market, potentially triggering a deeper correction to $100K, near the 200-day MA.

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The US dollar is gradually forming an uptrend

It may be hard to believe, but the US currency is gradually turning the tide in its favour. Such a calm recovery may well be a concentration of forces (liquidity) before a new phase of decline for the US currency.

The dollar index reached its lowest point in this cycle on 1 July at 96.00. After that, we saw two impulses of growth and decline, and each time there were higher local lows and higher local highs. A support line passes through the lows, the last touch of which was on 15 August.

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⚠️ Canada β€” Consumer Price Index at 03:00 GMT

βœ”οΈ Prev: 0.1% | 1.9%

πŸ•’ Exp: 0.4% | 1.7%

🎯 Fact.: 0.3% πŸ“‰ | 1.7%
πŸ‡ΊπŸ‡Έ US pre-market

πŸ“ˆ The US pre-market is showing moderately positive dynamics.

In the Electronic Technology sector, NVIDIA (NVDA) shares are up +0.21%, while AVGO (AVGO) shares are down -0.74%.

In the Retail sector, Amazon (AMZN) shares are down -0.22%, while Home Depot (HD) shares are up +1.72%.

In the Energy sector, Exxon Mobil (XOM) shares are down -0.18%, while Chevron (CVX) shares are down -1.23%.

Selective growth in large technology and retail companies is supporting investment inflows and creating a moderately positive sentiment, which could strengthen the dollar against a background of cautious risk appetite.
Bitcoin has fallen from its peak

Accelerating US inflation and Treasury Secretary Scott Bessent's comments on the US strategic reserve caused Bitcoin to plummet from record highs. The fastest growth in producer prices in three years has reduced the chances of the Fed resuming its monetary expansion cycle in September from almost 100% to 84%. The central bank may pause after lowering the federal funds rate. This will be a cold shower for risky assets, including cryptocurrencies.

Belief in an increase in US crypto reserves created a tailwind for Bitcoin. Investors speculated on how the White House would build up reserves. Will it be through tariffs? Revaluation of gold reserves? Or unique neutral budget strategies? Scott Bessent dashed the hopes of the digital asset market, stating that the United States does not intend to buy or sell Bitcoin. An increase in current reserves of $15-20 billion is possible in the event of further confiscations.

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🎦 Watch our new Pro News Flash video on YouTube!

Bitcoin Pulls Back From Record Highs

In this episode of Pro News Flash, we look at why Bitcoin is under pressure:

πŸ’΅ US inflation accelerates, reducing Fed easing chances

🏦 Treasury Secretary Bessent rules out US Bitcoin purchases

πŸ“Š Market cap slips from $2.5T as bulls retreat

What’s next for crypto? Can Powell’s Jackson Hole speech revive risk appetite, or will Bitcoin fall further?

πŸ“² Stay tuned with Pro News Flash for expert insights into the crypto markets. Like, share, and subscribe to never miss an update!
The US construction sector has slowed to a five-year low

There are new warning signs from the US construction market. Although the number of new housing starts rose by 5.2% in June after a 5.9% the previous month, the number of building permits has been falling for the last four months.

The number of permits is a leading indicator of future construction. This indicator has fallen to a rate that was last seen five years ago. The housing market has a clear correlation with interest rates, turning downward in 2022 almost simultaneously with the start of the Fed's key rate hike cycle.

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πŸ—“ Economic Calendar at 2025/08/20 (GMT)

01:00 πŸ‡¨πŸ‡³ Loan Prime Rate β€” Exp: 3.00% | 3.50% Actual: 3.00% | 3.50%

02:00 πŸ‡³πŸ‡Ώ ⚑️ Official Cash Rate β€” Exp: 3.00% Actual: 3.00%

02:00 πŸ‡³πŸ‡Ώ ⚑️ RBNZ Rate Statement

02:00 πŸ‡³πŸ‡Ώ ⚑️ RBNZ Monetary Policy Statement

03:00 πŸ‡³πŸ‡Ώ ⚑️ RBNZ Press Conference

06:00 πŸ‡¬πŸ‡§ ⚑️ Consumer Price Index β€” Exp: -0.1% | 3.7% Actual: 0.1% | 3.8%

06:00 πŸ‡¬πŸ‡§ Core CPI β€” Exp: 3.7% Actual: 3.8%

06:00 πŸ‡¬πŸ‡§ Retail Price Index β€” Exp: 0.1% | 4.6% Actual: 0.4% | 4.8%

07:10 πŸ‡ͺπŸ‡Ί ⚑️ ECB President Christine Lagarde Speaks

09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index β€” Exp: 2.0% Actual: 2.0%

09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index - Core β€” Exp: 2.3% Actual: 2.3%

14:30 πŸ‡ΊπŸ‡Έ Crude Oil Inventories β€” Exp: -800K Actual: -6014K

15:00 πŸ‡ΊπŸ‡Έ FOMC Member Christopher J. Waller Speaks

18:00 πŸ‡ΊπŸ‡Έ ⚑️ FOMC Meeting Minutes

20:10 πŸ‡³πŸ‡Ώ ⚑️ RBNZ Governor Christian Hawkesby Speaks

22:45 πŸ‡³πŸ‡Ώ Trade Balance β€” Exp: 70M


[Updated in real time]