BTC Faces Critical Test Amid Rising US Inflation and Market Uncertainty
Main Idea
The US core PCE inflation rate rose to 2.8% in June, impacting Bitcoin's market dynamics, with key resistance and support levels identified amid economic uncertainty.
Key Points
1. US core PCE inflation increased to 2.8% year-on-year in June, the highest since February, driven by rising consumer spending and overall PCE.
2. Bitcoin's price is testing critical levels, with resistance at 118,500–118,800 and strong support at 116,300, reinforced by liquidation buy orders around 117,000.
3. Bitunix analysts recommend waiting for a confirmed breakout above 118,800 or a breakdown below 116,300 before making trading decisions due to inflation uncertainty.
4. The market is cautious, with significant selling pressure above 120,000, reflecting bearish sentiment amid economic risks.
5. The June PCE rebound adds to inflation concerns, compounded by anticipation of new tariff policies, influencing Bitcoin's market behavior.
Description
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