Key factors:
Bitcoin value targets embrace taking liquidity at across the $120,000 mark.
US PPI inflation cools past expectations, offering aid after the recent CPI print the day prior.
BTC/USD avoids a visit to a CME hole under $115,000.
Bitcoin (BTC) maintained an in a single day rebound on the Wall Road open Wednesday as US inflation knowledge supplied bulls some aid.
July Fed rate-cut odds absent regardless of cool PPI
Information from Cointelegraph Markets Pro and TradingView confirmed BTC/USD hovering at round $119,000.
Nonetheless up 0.5% on the day, the pair surfed promising Producer Worth Index (PPI) outcomes, which got here in decrease than anticipated throughout the board.
“On an unadjusted foundation, the index for remaining demand rose 2.3 % for the 12 months resulted in June. In June, a 0.3-percent advance in costs for remaining demand items offset a 0.1-percent lower within the index for remaining demand companies,” an official press release from the US Bureau of Labor Statistics (BLS) confirmed.
Regardless of rising 2.3%, PPI was nonetheless 0.2% decrease than anticipated and 0.4% under the prior month’s improve.
“Producer inflation is cooling down once more,” buying and selling useful resource The Kobeissi Letter confirmed in a part of a response on X.
PPI thus strongly contrasted with the Shopper Worth Index (CPI) print the day earlier than, rising 2.7% year-on-year to succeed in the best ranges since February.
Some commentators advised that the Federal Reserve would now be even much less more likely to decrease rates of interest, a blow to threat belongings. Others, nonetheless, argued that the inflation numbers have been nowhere close to vital, particularly amid the continuing US commerce struggle.
“Inflation continues too cool. The one one miss in CPI was as a result of Oil rising in June however it has come again down which can replicate subsequent month,” crypto analyst Matthew Hyland continued following the PPI launch.
“There isn’t a excessive inflation like almost all of the specialists claimed could be right here by now.”
The most recent knowledge from CME Group’s FedWatch Tool nonetheless confirmed no trace of change in market sentiment concerning charge cuts on the Fed’s upcoming assembly on July 30.
Bitcoin sizes up close by liquidity
Turning to BTC value motion, market individuals noticed the potential for a contemporary spherical of liquidity grabs.
Associated: Bitcoin ETF inflows show institutions ‘doubled down’ on BTC at $116K
$BTC Excessive leverage liquidation fishing pic.twitter.com/gwtvWISTpb
— TheKingfisher (@kingfisher_btc) July 16, 2025
As Cointelegraph continues to report, change order-book liquidity has shaped low-timeframe value magnets all through latest months.
On X, monitoring useful resource CoinGlass likewise flagged liquidity to the upside on the day, its data displaying asks clustered between $119,500 and $120,500.
“Appears like Bitcoin is discovering assist simply above its Day by day CME Hole,” in style dealer and analyst Rekt Capital added.
Rekt Capital referred to the “hole” left between closing and opening ranges on CME Group’s Bitcoin futures markets, which usually draw price toward them after forming. The hole in query lies between $114,300 and $115,600.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a choice.
