1 day ago
Key points:
Bitcoin terms targets see taking liquidity astatine astir the $120,000 mark.
US PPI ostentation cools beyond expectations, providing alleviation aft the blistery CPI people the time prior.
BTC/USD avoids a travel to a CME spread beneath $115,000.
Bitcoin (BTC) maintained an overnight rebound astatine the Wall Street unfastened Wednesday arsenic US ostentation information provided bulls immoderate relief.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewJuly Fed rate-cut likelihood absent contempt chill PPI
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering astatine astir $119,000.
Still up 0.5% connected the day, the brace surfed promising Producer Price Index (PPI) results, which came successful little than anticipated crossed the board.
“On an unadjusted basis, the scale for last request roseate 2.3 percent for the 12 months ended successful June. In June, a 0.3-percent beforehand successful prices for last request goods offset a 0.1-percent alteration successful the scale for last request services,” an official property release from the US Bureau of Labor Statistics (BLS) confirmed.
US PPI 1-month % change. Source: BLSDespite rising 2.3%, PPI was inactive 0.2% little than expected and 0.4% beneath the anterior month’s increase.
“Producer ostentation is cooling down again,” trading assets The Kobeissi Letter confirmed successful portion of a response connected X.
PPI frankincense powerfully contrasted with the Consumer Price Index (CPI) people the time before, rising 2.7% year-on-year to scope the highest levels since February.
Some commentators suggested that the Federal Reserve would present beryllium adjacent little apt to little involvement rates, a stroke to hazard assets. Others, however, argued that the ostentation numbers were obscurity adjacent critical, particularly amid the ongoing US commercialized war.
“Inflation continues excessively cool. The lone 1 miss successful CPI was owed to Oil rising successful June but it has travel backmost down which volition bespeak adjacent month,” crypto expert Matthew Hyland continued pursuing the PPI release.
“There is nary precocious ostentation similar astir each the experts claimed would beryllium present by now.”
Fed people complaint probabilities (screenshot). Source: CME GroupThe latest information from CME Group’s FedWatch Tool nevertheless showed nary hint of alteration successful marketplace sentiment regarding complaint cuts astatine the Fed’s upcoming gathering connected July 30.
Bitcoin sizes up adjacent liquidity
Turning to BTC terms action, marketplace participants saw the imaginable for a caller circular of liquidity grabs.
Related: Bitcoin ETF inflows amusement institutions ‘doubled down’ connected BTC astatine $116K
$BTC High leverage liquidation sportfishing pic.twitter.com/gwtvWISTpb
— TheKingfisher (@kingfisher_btc) July 16, 2025As Cointelegraph continues to report, speech order-book liquidity has formed low-timeframe terms magnets passim caller months.
On X, monitoring assets CoinGlass likewise flagged liquidity to the upside connected the day, its data showing asks clustered betwixt $119,500 and $120,500.
BTC liquidation heatmap (screenshot). Source: CoinGlass“Looks similar Bitcoin is uncovering enactment conscionable supra its Daily CME Gap,” fashionable trader and expert Rekt Capital added.
Rekt Capital referred to the “gap” near betwixt closing and opening levels connected CME Group’s Bitcoin futures markets, which typically draw terms toward them aft forming. The spread successful question lies betwixt $114,300 and $115,600.
CME Group Bitcoin futures 1-day chart. Source: Rekt Capital/XThis nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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