Bitcoin fills July CME gap 'to the dollar' amid $104K BTC price target
Main Idea
Bitcoin filled a CME gap near $114,000 amid mixed trader sentiment and market volatility influenced by US trade tariffs, with some predicting further price movements.
Key Points
1. Bitcoin hit three-week lows, filling a CME futures gap at $114,322 before bouncing.
2. Traders are divided on BTC's next price direction, with some warning of potential further declines to $111.8K before a possible rally.
3. Market volatility was exacerbated by US trade tariffs, with Bitcoin and stocks experiencing whipsaw movements.
4. The S&P 500 futures dropped modestly, with the market appearing acclimatized to trade war surprises since April.
5. The Personal Consumption Expenditures (PCE) index came in above estimates, adding to market uncertainty.
Description
BTC price weakness outpaces stocks on fresh US trade tariffs, and Bitcoin traders are split over the impact of the CME gap fill near $114,000.
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