Bitcoin digests US PPI win with $120K liquidity grab on bulls' radar

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.