Bitcoin Stalls as Traders Book Profits Amid Jerome Powell Succession Talks
2025-07-16 06:12:14
Main Idea
Bitcoin's price drop is attributed to profit-taking by traders and mixed monetary signals, with on-chain data showing increased exchange inflows and concerns over inflation impacting market sentiment.
Key Points
1. Bitcoin's price fell to $117,250, down 4.5% from its all-time high, driven by profit-taking amid mixed monetary signals.
2. Exchange inflows spiked by 14,000 BTC, a trend that often precedes price drops, according to CryptoQuant's Julio Moreno.
3. June’s U.S. Consumer Price Index showed a 0.3 percentage point increase in inflation, reducing expectations for near-term rate cuts and pressuring risk-on assets.
4. Short-term Bitcoin holders are averaging a 10% profit, leading to selling pressure as traders lock in gains rather than risk further downside.
5. Despite short-term volatility, analysts suggest a potential dovish shift in Fed policy could benefit crypto markets in the future.
Description
Bitcoin's 5% correction from all-time highs comes as sticky inflation and talk of Fed Chair Jerome Powell's replacement lingers.
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