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Bitcoin Targets $135,000 and $115,000 Amid Geopolitical Tensions

Bitcoin must reclaim the $119,250–$120,700 zone to confirm bullish momentum, as June CPI data shows rising inflation and mixed market reactions.

BTC

Summary

Bitcoin's price rallied to $118,400 following the June CPI release, which indicated rising inflation. Headline CPI rose to 2.7% year-over-year, and core CPI reached 2.9%. Analysts suggest reclaiming the $119,250–$120,700 zone is crucial for bullish momentum, while a hotter PPI could lead to pullbacks. Despite macroeconomic uncertainties, Bitcoin remains in a broader uptrend, with key levels to watch for potential breakout or breakdown.

Terms & Concepts
  • CPI: Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services.
  • PPI: Producer Price Index, a measure of the average changes in prices received by domestic producers for their output.
  • EMA: Exponential Moving Average, a type of moving average that gives more weight to recent prices, making it more responsive to new information.