Bitcoin traders target $137K as US CPI print raises Fed rate cut odds to 94%
Main Idea
Bitcoin traders are targeting $137K as US CPI data raises the likelihood of a Federal Reserve rate cut, with BTC price movements showing volatility and potential for further gains.
Key Points
1. US CPI held steady at 2.7% year-over-year, boosting Fed rate cut odds to 93.9% for September.
2. Core CPI, excluding food and energy, rose 3.1% annually, in line with expectations, while monthly CPI increased 0.2%.
3. Bitcoin surged to $122,190 but dipped to $118,500, with a rebound to $119,500 post-CPI release; a close above $120,000 is seen as key for further upside.
4. Technical analyst Titan of Crypto projects a bullish target of $137,000 based on a descending trendline breakout.
5. Failure to reclaim $120,000 could lead to short-term downside pressure, with immediate support at $117,650–$115,650.
Description
Bitcoin bulls lift their price target to $137,000 as odds of a Federal Reserve rate cut increase.
Latest News
- Record $37T US debt and M2 money growth set stage for $132K Bitcoin2025-08-13 10:55:43
- Whale holding $5.6B in ETH is selling, dumps $88M in 15 hours2025-08-13 08:09:38
- Wisconsin senators file companion bill aiming to curb crypto ATM scams2025-08-13 06:31:18
- Ethereum could reach over $8.5K if Bitcoin taps $150K, says trader2025-08-13 05:19:32
- US bank groups ask to close GENIUS Act’s stablecoin yield ‘loophole’2025-08-13 04:56:15