Mr4Beast

07/16 17:09

Bitcoin digests US PPI win with $120K liquidity gr

Bitcoin price action coils beneath an increasingly thick cloud of liquidity as PPI inflation cools beyond expectations in June.

Bitcoin price targets include taking liquidity at around the $120,000 mark.

US PPI inflation cools beyond expectations, providing relief after the hot CPI print the day prior.

BTC/USD avoids a trip to a CME gap below $115,000.

Bitcoin 
BTC
$119,307
 maintained an overnight rebound at the Wall Street open Wednesday as US inflation data provided bulls some relief.

July Fed rate-cut odds absent despite cool PPI
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering at around $119,000.

Still up 0.5% on the day, the pair surfed promising Producer Price Index (PPI) results, which came in lower than anticipated across the board.

“On an unadjusted basis, the index for final demand rose 2.3 percent for the 12 months ended in June. In June, a 0.3-percent advance in prices for final demand goods offset a 0.1-percent decrease in the index for final demand services,” an official press release from the US Bureau of Labor Statistics (BLS) confirmed.

#Claim1,200 USDT in the Monthly Creation Challenge#HTX 12th-Anniversary Carnival#BTC price hits a new high of $120,000! #Do you think ANIME is promising?#Trump family backs TRON's US listing

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