2 hours ago
Bitcoin showed nary motion of a large rebound aft the merchandise of large US ostentation data, with bid liquidity clustered astatine $108,200.
Key points:
Bitcoin sellers effort to interruption enactment astatine $109,000 astatine the week’s last Wall Street open.
BTC terms enactment tin caput toward $100,000 arsenic a result, contempt a ample “deleveraging” event.
US PCE ostentation offers nary alleviation for crypto bulls.
Bitcoin (BTC) threatened caller September lows astatine Friday’s Wall Street unfastened arsenic US ostentation information failed to buoy bulls.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Liquidity stacks up arsenic Bitcoin terms falls further
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD risked a breakdown beneath $109,000.
Exchange order-book liquidity remained heavy connected either broadside of the spot price, providing some upside and downside “magnets” for momentum.
On the largest planetary exchange, Binance, bids were clustered astir $108,200, with abbreviated liquidations owed astatine $110,000 and up, per information from CoinGlass.
Binance BTC/USDT liquidation heatmap (screenshot). Source: CoinGlass“Bitcoin futures saw different question of agelong liquidations arsenic terms moved beneath $111k,” onchain analytics level Glassnode summarized successful a station connected X.
“This flush of leverage reflects a wide deleveraging event, often resetting marketplace positioning and easing the hazard of further cascades.”
Bitcoin futures agelong liquidations. Source: Glassnode/XStill, Traders remained risk-averse, with BTC terms targets toward $100,000 becoming much popular.
“$BTC is hovering conscionable supra its enactment level,” 1 marketplace instrumentality from crypto capitalist and entrepreneur Ted Pillows read connected the day.
“If this level holds, Bitcoin could rally towards $112,000. In lawsuit of a breakdown, BTC volition retest $101,000 enactment portion earlier reversal.”
BTC/USDT one-day chart. Source: Ted Pillows/XPCE information preserves Fed rate-cut bets
Macroeconomic events had small perceptible interaction connected the crypto marketplace trajectory.
Related: Bitcoin sees astir fearfulness since $83K arsenic investigation eyes ‘turning point’
The Personal Consumption Expenditures (PCE) index, known arsenic the US Federal Reserve’s “preferred” ostentation gauge, arrived successful enactment with expectations astatine 2.7%.
US PCE scale % alteration (screenshot). Source: US Bureau of Economic AnalysisReacting, trading assets The Kobeissi Letter concluded that portion PCE was astatine seven-month highs, the Fed would property up with the interest-rate cuts sorely wanted by crypto and risk-asset traders.
“PCE ostentation is astatine its highest since February 2025. Yet, the Fed volition support cutting rates,” it told X followers.
This 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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