Bitcoin to test $110K as macro analysis tells traders to 'buckle up'

3 hours ago

Key points:

  • Bitcoin tries and fails to ace $110,000 arsenic overhead liquidity thickens.

  • Traders accidental that much signs of spot are needed to reignite bull marketplace momentum.

  • Macro cues see adjacent week’s CPI people arsenic a imaginable volatility date.

Bitcoin (BTC) attempted a tally connected $110,000 astir the July 9 Wall Street unfastened arsenic sellers lined up to support the terms successful place.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView


Bitcoin bulls stumble earlier reaching $110,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $109,777 connected Bitstamp earlier reversing.

Still wedged successful a constrictive range, the brace was contained by speech order-book liquidity, which strengthened astir the move.

Data from monitoring assets CoinGlass showed bid and inquire liquidity strongest astatine astir $108,500 and $110,500, respectively.

BTC liquidation heatmap (screenshot). Source: CoinGlass

Reacting, crypto marketplace participants hoped that the signifier was being acceptable for a long-anticipated battle connected all-time highs.

“Almost each liquidity is to the upside. Stops supra $110k are not safe,” fashionable trader Jelle wrote successful portion of an X station connected the topic.

Jelle predicted a travel to $130,000 should bulls win successful cracking the $110,000 mark, which had not seen a regular adjacent since June 11.

— Jelle (@CryptoJelleNL) July 9, 2025

Continuing, chap trader BitBull flagged comparative spot scale (RSI) information arsenic cardinal to determining Bitcoin’s imaginable adjacent move.

“3D RSI and terms are some forming an inverse caput and enarthrosis pattern,” helium told X followers, referring to a classical bullish illustration feature.

“For breakout, we request 1 of these 2 things. Either a 3D adjacent supra $110K oregon a 3D RSI adjacent supra 70. After that, we'll acquisition an up-only rally for 3-4 weeks.”
BTC/USDT 3-day illustration with RSI data. Source: BitBull/X

“Stage is set” for crypto, risk-asset volatility

With the US trade-tariff debacle inactive unfolding, macro investigation turned to upcoming volatility triggers for crypto and hazard assets.

Related: Bitcoin Mayer Multiple shows $108K BTC terms undervalued: Analysis

In its latest bulletin to Telegram transmission subscribers connected the day, trading steadfast QCP Capital highlighted adjacent week’s Consumer Price Index (CPI) people arsenic portion of the ongoing US ostentation story.

This, it argued, would measurement connected market expectations for Federal Reserve interest-rate cuts, perchance altering sentiment successful the process.

“Last week’s blistery jobs information dampened complaint chopped optimism,” the bulletin observed.

“Markets person scaled backmost expectations to 2 cuts successful 2025, down from 2.5 previously. A July chopped is each but priced out. September likelihood person slipped from 90% to 70%.”
Fed people complaint probabilities (screenshot). Source: CME Group FedWatch Tool

QCP described Bitcoin arsenic “well bid,” noting US dollar weakness and accordant organization inflows contempt the precarious macro picture.

“With a reignited commercialized war, a much hawkish Fed, and tightening liquidity conditions, the signifier is acceptable for elevated volatility,” it concluded.

“Macro catalysts are lining up. Buckle up.”

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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