The cryptocurrency market experienced significant volatility on August 15. Following the release of the U.S. Producer Price Index (PPI) data, the market reacted sharply, leading to a large number of investors facing liquidation.

PPI data exceeded expectations, suggesting that the impact of tariffs on inflation persists. This data has reduced the expectation of a rate cut in September from 50 basis points to 25 basis points. Meanwhile, market rumors circulated that a certain institution had halted its Bitcoin strategic reserves; although this was later confirmed to be false, it still had some effect on market sentiment.

In terms of Bitcoin (BTC), affected by news, the price once fell below the daily support level. However, after a night of consolidation, a golden cross formed on the hourly chart, and the price gradually rebounded towards the middle track. The four-hour candlestick chart shows that trading volume continues to decrease. Investors should pay attention to the daily support level at $1179. If this level can be maintained, there is still a possibility of continued upward movement. The current key range is $1179-$1184, with a lower defense level at $1169 and upper target levels at $1196, $1209, and $1221.

Ethereum (ETH) has shown relative strength, with most pullbacks quickly recovered, indicating strong buying power. As long as the support level of $4450 is not breached, the upward trend continues. If it can break through and stabilize at the $4659 level, the upward momentum will be even stronger. The current key range is $4582-$4606, with a defensive level at $4530 below, and target levels above are $4659, $4694, and $4736.

It is worth noting that the chairman of the U.S. Securities and Exchange Commission (SEC) will deliver a speech at 8:30 PM announcing the on-chain securities, which may have a significant impact on the encryption market. Investors should closely monitor the developments of this event.

In this complex market environment, investors need to remain vigilant, closely monitor market trends and regulatory changes, while carefully assessing risks and opportunities.