The main dishes to remember:
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June IPI data has shown an increase in titles and central inflation, reducing the expectations of a drop in interest rates in July.
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Bitcoin must recover the area from $ 119,250 to $ 120,700 to confirm the bullish momentum and target fresh summits above $ 123,000.
The Bitcoin price (BTC) joined $ 118,400, against $ 16,500 Tuesday after the publication of the June Consumer Consumer price index (ICC), which has shown that inflation increases for the second consecutive month. The CPI title reached 2.7% in annual sliding, the highest since February, corresponding to expectations but against 2.4% in May. The basic ICC also checked more at 2.9% per year, although it is slightly lower than forecasts (3%). The overall IPC increased 0.3% per month, the most net gain in five months, with basic inflation up 0.2%.
The data underlines that inflation remains sticky, especially in key segments such as food and transport, while the prices of shelters have only slightly attenuated. The markets reacted with caution and the US dollar index (DXY) increased to 98.5, up 2.1% in July.
Bitcoin’s short -term prospects attract a mixed reception. The main figures expected offered a certain relief, but an increase in inflation of the head attenuated the hopes of a dominant pivot during the meeting of the Federal Committee of the Free Market in July. According to CME Fedwatch, the long -term prices still promote a chance of 54.3% of a drop in September, which could obtain an additional confirmation compared to this week’s price index (PPI) data index.
If the PPI is softer than expected, Bitcoin can regain control over $ 120,000. However, a hotter PPI impression could trigger another withdrawal between $ 115,000 and $ 110,000.
While macroeconomic uncertainty lingers, Bitcoin remains well positioned in a wider rise, but this week’s data could define whether the next movement is a break or a break.
Related: Bitcoin Speculates Record Cost Base increases the support by $ 100,000 as BTC plunged
Bitcoin key levels to monitor
After reaching a new annual summit of $ 123,218, Bitcoin suddenly goes back to $ 116,500 on Tuesday, sweeping. The movement neutralized the overvalued positions, reset the market.
For the bulls, the key area to be recovered is now between $ 119,250 and $ 120,700, an imbalance area on the sale side, where aggressive sellers previously pushed the lower price, leaving non -filled purchase orders. A clean break above this range would signal a renewed bullish momentum and open the door to fresh summits beyond $ 123,000.
However, a deeper correction seems more likely in the short term. Bitcoin could review the fair gap between $ 113,700 and $ 115,300, an area aligned with the 200 -day EMA, which offers dynamic support. A rebound here would support the continuation of the wider rise. If the pressure sale intensifies, BTC can retain the old high level above $ 112,000 before resuming its ascending trajectory.
Whatever short -term volatility, the long -term market structure indicates that all Bitcoin decreases are potential purchasing opportunities. Crypto Trader Magus noted on X that BTC around $ 117,000 is a “gift”, highlighting the current force of the rally.
Similarly, the anonymous investor Jelle was expecting BTC to cut between $ 116,000 and $ 118,000 before taking over a position more than $ 120,000.
Related: the drop in the price of bitcoin to $ 114,000 possible because the BTC whales make profits
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
