Bitcoin news today highlights a critical moment for BTC as U.S. inflation data spikes and the cryptocurrency tests a major resistance level. With the Core PCE jumping to 2.8%, traders are bracing for potential volatility. Here’s what you need to know.
U.S. Core PCE Jumps to 2.8%: What It Means for Bitcoin
The U.S. core Personal Consumption Expenditures (PCE) index for June rose to 2.8% year-over-year, exceeding expectations and marking the fastest inflationary pace since February. This resurgence in inflation could influence Federal Reserve policy and, in turn, Bitcoin’s price action.
- Inflation Pressure: Rising PCE signals persistent inflation, potentially delaying Fed rate cuts.
- Market Reaction: Bitcoin often reacts to macroeconomic shifts, especially inflation data.
- Labor Market Weakness: Stagnant real incomes and hiring slowdowns add uncertainty.
Bitcoin Price Analysis: Key Resistance at $118.8K
Bitcoin is approaching the apex of a descending triangle on the daily chart, with $118,500–$118,800 as critical resistance. Here’s the breakdown:
| Level | Significance |
|---|---|
| $118,800 | Breakout could signal bullish momentum. |
| $116,300 | Strong support; breakdown may trigger sell-offs. |
| $117,000 | Buy-side liquidations cluster here. |
Why Traders Should Proceed with Caution
Bitunix analysts warn of heightened volatility due to inflation uncertainties and potential tariff announcements. Key takeaways:
- Avoid chasing price movements—wait for confirmed breakout or breakdown.
- Monitor $120,000 for selling pressure and $116,300 for support.
- Inflation data and Fed policy remain pivotal for BTC’s direction.
Conclusion: Bitcoin’s Pivotal Moment
Bitcoin news today underscores a tense standoff between inflation fears and technical resistance. Traders must stay alert for breakout signals while considering macroeconomic risks. The next few days could define BTC’s trajectory for weeks to come.
Frequently Asked Questions (FAQs)
1. How does U.S. Core PCE affect Bitcoin?
Higher PCE inflation may delay Fed rate cuts, often pressuring risk assets like Bitcoin in the short term.
2. What is Bitcoin’s critical resistance level?
The $118,500–$118,800 range is the key short-term resistance to watch.
3. Should I buy Bitcoin now?
Wait for a confirmed breakout above $118,800 or a drop below $116,300 before entering positions.
4. What other factors could impact BTC’s price?
Upcoming jobs data, Fed policy signals, and geopolitical risks (e.g., tariffs) are major catalysts.
