Bitcoin News Today: U.S. Core PCE Surges to 2.8%, BTC Battles Critical $118.8K Resistance
Bitcoin news today highlights a critical moment as U.S. inflation data spikes and BTC tests a major resistance level. Will the cryptocurrency break through or face a pullback? Here’s what traders 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 rose to 2.8% year-over-year in June, exceeding expectations and marking the fastest inflationary pace since February. This resurgence in inflation could influence Federal Reserve policy, impacting Bitcoin and broader markets.
Bitcoin Presses Toward $118.8K Resistance: Key Levels to Watch
BTC is approaching the apex of a descending triangle on the daily chart, with $118,500–$118,800 as critical resistance. Support holds firm at $116,300, while buy-side liquidations cluster near $117,000. A breakout or breakdown could dictate the next major move.
Market Analysis: Inflation Uncertainty and BTC’s Next Move
Bitunix analysts warn that rising PCE data introduces new inflation risks, compounded by potential tariff announcements. Traders should wait for a confirmed breakout above $118,800 or a drop below $116,300 before taking positions.
Why This Bitcoin News Matters for Traders
- Inflation data could delay Fed rate cuts, affecting crypto liquidity.
- BTC’s technical setup suggests a looming volatility spike.
- Heatmap data reveals concentrated liquidity at key levels.
Conclusion: Navigating Bitcoin’s Critical Juncture
With inflation resurging and BTC at a technical inflection point, traders must stay alert. Patience and disciplined risk management are essential until a clear trend emerges.
FAQs
Q: How does the PCE report impact Bitcoin?
A: Higher PCE signals persistent inflation, which may delay Fed rate cuts and pressure risk assets like BTC.
Q: What happens if Bitcoin breaks $118,800?
A: A confirmed breakout could trigger a rally toward $120,000+, while failure may lead to a retest of $116,300 support.
Q: Should I buy Bitcoin now?
A: Wait for a clear breakout or breakdown before entering new positions to avoid false signals.
Q: What other factors are affecting BTC’s price?
A: Political risks (e.g., potential tariffs) and labor market data could add volatility in the near term.
