Bitcoin digests US PPI win with $120K liquidity grab on bulls' radar
2025-07-16 15:49:46
Main Idea
Bitcoin price reacts positively to cooler-than-expected US Producer Price Index (PPI) data, with liquidity targets around $120,000 and potential support levels identified.
Key Points
1. Bitcoin price targets include taking liquidity at around the $120,000 mark, with BTC/USD avoiding a trip to a CME gap below $115,000.
2. US PPI data showed a 2.3% year-on-year rise, which was 0.2% lower than expected, providing relief to Bitcoin bulls.
3. PPI contrasted with the Consumer Price Index (CPI), which rose 2.7% year-on-year, the highest since February.
4. Exchange order-book liquidity has formed low-timeframe price magnets, with monitoring resources flagging $119,500 and $120,500 as key levels.
5. A CME Group Bitcoin futures gap between $114,300 and $115,600 remains a potential draw for price movement.
Description
Bitcoin price action coils beneath an increasingly thick cloud of liquidity as PPI inflation cools beyond expectations in June.
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