Bitcoin Pulls Back to $119K as Looming Inflation Data Could Bring Price Swings

Key Points

1. Bitcoin (BTC) dropped to $118,500 after profit-taking, remaining 0.4% up over 24 hours but 2.8% below its session high of $122,200.

2. Ether (ETH) held above $4,200, up 0.8%, while altcoins SOL, DOGE, and SUI declined 3%-4%.

3. Bitfinex analysts highlighted that CPI and PPI data this week could drive volatility, possibly leading to a retracement toward $110,000.

4. A gap in CME futures between $117,430 and $119,000 suggests Bitcoin might pull back to 'fill' it, according to CoinDesk analyst James Van Straten.

5. Bonk.fun, a Solana memecoin platform, saw a $25M corporate treasury boost from Safety Shot, which acquired a 10% revenue stake.