July CPI Comes in Cool at 2.7%: What This Means for the Price of Bitcoin
Main Idea
The US Consumer Price Index (CPI) for July 2025 came in at 2.7%, lower than expected, while Bitcoin faces resistance near $120,000 with potential for a short-term correction.
Key Points
1. July's CPI data was 2.7% YoY, below the anticipated 2.8%, as reported by the US Bureau of Labor Statistics.
2. Bitcoin's price was rejected near $120,000, leading to a 3% retracement to around $118,525, with technical indicators suggesting a possible correction toward $117,000.
3. 74% of traders on Kalshi predicted the CPI would be 2.7%, aligning with the actual data.
4. Bitcoin has shown heightened volatility around CPI announcements, with past trends indicating price drops before official releases.
5. BTC supply on centralized exchanges has declined by 7,000 in the last 30 days, reaching a multi-year low of approximately 2.24 million coins.
Description
The US Consumer Price Index (CPI) for July came in cooler than expected at 2.7%. This creates a bullish setup for Bitcoin, which dipped 3% just before the announcement. Analysts point to a historical pattern where a pre-CPI dip leads to a post-CPI rally. Bitcoin is facing a strong sell wall around the $120,000 level. The latest attempt to break higher was rejected, resulting in a 3% retrace to about $118,525 on Tuesday. This short-term weakness is being highlighted by a “death cross” on the four...
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