INSUBCONTINENT EXCLUSIVE:
Key takeaways:June CPI data showed rising headline and core inflation, reducing expectations of an interest rate cut in July.Bitcoin must
$118,400 from $16,500 on Tuesday following the release of the June US Consumer Price Index (CPI), which showed inflation rising for the
Headline CPI hit 2.7% year-over-year, the highest since February, matching expectations but up from 2.4% in May
Core CPI also ticked higher to 2.9% annually, though it came in slightly below forecasts (3%)
Overall CPI rose 0.3% month-over-month, the sharpest gain in five months, with core inflation up 0.2%.The data underscores that inflation
remains sticky, especially in key segments like food and transportation, while shelter prices have only marginally eased
The expected core figures offered some relief, but rising headline inflation dampened hopes of a dovish pivot at the July Federal Open
According to CME FedWatch, futures pricing still favors a 54.3% chance of a September cut, which could attain further confirmation from this
Bitcoin retraced sharply to $116,500 on Tuesday, sweeping
The move neutralized overleveraged positions, resetting the market.For bulls, the key zone to reclaim now lies between $119,250 and
$120,700, an area of sell-side imbalance, where aggressive sellers previously pushed the price lower, leaving unfilled buy orders
A clean breakout above this range would signal renewed bullish momentum and open the door for fresh highs beyond $123,000.Bitcoin 1-hour
Source: Cointelegraph/TradingViewHowever, a deeper correction appears more probable in the short term
Bitcoin could revisit the fair value gap between $113,700 and $115,300, a zone aligned with the 200-day EMA, which offers dynamic support
A bounce here would support the continuation of the broader uptrend
If selling pressure intensifies, BTC may retest the former all-time high around $112,000 before resuming its upward trajectory.Irrespective
of short-term volatility, the long-term market structure indicates that all Bitcoin dips are potential buy opportunities
Source: XRelated: Bitcoin price drop to $114K possible as BTC whales take profitsThis article does not contain investment advice or
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
