BTC Stalls Just Below $110,000 Amidst Heavy Sell Pressure
2025-07-09 16:20:59
Main Idea
Bitcoin approached $110,000 but faced selling pressure, with traders watching liquidity and macroeconomic factors for potential future price movements.
Key Points
1. Bitcoin's price peaked at $109,777 on Bitstamp before reversing, with strong buying interest around $108,500 and sell pressure near $110,500.
2. Trader Jelle suggested a breakout above $110,000 could lead to a rapid price increase, possibly reaching $130,000, if resistance is overcome.
3. The U.S. Consumer Price Index (CPI) report and Federal Reserve interest rate decisions are expected to introduce volatility in Bitcoin's price.
4. QCP Capital noted Bitcoin remains 'well bid' due to institutional inflows and a weakening U.S. dollar, despite reduced expectations for rate cuts in 2025.
5. Traders are closely monitoring liquidity zones and upcoming inflation data for indications of Bitcoin's next major price movement.
Description
Bitcoin made an ambitious push toward the $110,000 mark on July 9, but selling pressure halted its advance just short of the milestone. BTC/USD peaked at $109,777 on Bitstamp before reversing, according to data from Cointelegraph Markets Pro and TradingView. The price remains constrained within a tight range, with liquidity clustering at key levels. Order book data from CoinGlass indicated strong buying interest around $108,500 and heavy sell pressure near $110,500, which appears to be capping f...
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