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Bitcoin recovers after US-CPI driven dip, ENS, BONK, SPX6900 lead altcoin recovery

2025-07-16 16:58:43

Bitcoin recovers after US-CPI driven dip, ENS, BONK, SPX6900 lead altcoin recovery

Main Idea

Bitcoin recovered from a dip caused by US CPI data, with altcoins like ENS, BONK, and SPX6900 leading gains, while market analysts suggest further upside potential.

Key Points

1. Bitcoin defended the $115K support level amid inflation concerns and profit-taking, with analysts noting the market is not yet overheated.

2. The Altcoin Season Index rose, with ENS, BONK, and SPX6900 leading gains; Ethereum and other major altcoins also posted significant increases.

3. US CPI data showed inflation rising for the second consecutive month, with core inflation slightly below expectations, impacting market sentiment.

4. On-chain data indicated profit-taking by long-term Bitcoin holders, but key metrics like the Peak Signal and Realized Cap-UTXO Age Bands suggest the market is not at a peak yet.

5. Short-term holder cost basis levels suggest key technical zones for Bitcoin, with potential upside to $130K and support near $113K.

Description

Bitcoin rebounded from Tuesday’s slump after bulls held the $115,000 support, trimming earlier losses. The broader crypto market followed suit, with total market capitalisation climbing back above $3.8 trillion and reaching an intraday high of $3.838 trillion. However, sentiment turned cautious amid renewed macro uncertainty. The Crypto Fear & Greed Index slipped three points to 70, though it remained in the “Greed” zone. Altcoin markets regained momentum alongside Bitcoin, as it began retracing...

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Altcoins Crypto Bitcoin Ethereum Russia USA
$ETH
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$SOL
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$BONK
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$DOGE
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$XRP
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$ADA
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$BTC
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$ENS
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+1.53%
$SPX
$1.8308
+0.54%

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