The latest U.S. economic data showed the June Personal Consumption Expenditures (PCE) inflation index rising to 3.8% from May’s 3.5%, signaling strengthening inflationary pressures across consumer spending sectors. This rebound heightens scrutiny on Federal Reserve policy decisions amid persistent inflation concerns.
Heightened tariff risks from ongoing international trade disputes are creating market liquidity challenges, adversely affecting investor sentiment across asset classes including cryptocurrencies. These macroeconomic pressures continue to ripple through digital asset markets, compounding traditional financial uncertainties.
Despite this backdrop, Bitcoin demonstrates technical resilience by maintaining critical support at the $117,000 level. Analysts note Bitcoin’s price action is now approaching the apex of a decisive consolidation pattern, suggesting imminent directional volatility. Market participants actively monitor this price threshold, which has consistently absorbed selling pressure during recent market fluctuations.