Bitcoin\u2019s push toward new records was stopped by profit-taking, causing a price retreat from a high of $122,200 back to $118,500.
\nA technical gap in the CME futures market between $117,430 and $119,000 has created a potential target for a short-term price pullback.
\nUpcoming US inflation data, particularly the CPI, is considered the week\u2019s most significant catalyst for potential market volatility.<\/p>\n
A promising overnight surge that propelled Bitcoin within sight of new records was cut short by a wave of profit-taking, pulling the leading cryptocurrency back and setting a cautious tone for the week.<\/p>\n
The market now holds its breath, caught between the allure of all-time highs and the looming shadow of critical economic data that could ignite significant price swings.<\/p>\n
After reaching a session high of $122,200, Bitcoin (BTC) saw its momentum fade, retreating 2.8% to land at $118,500.<\/p>\n
Despite the pullback, the digital asset remained slightly positive over a 24-hour period.<\/p>\n
In the broader crypto market, Ether (ETH) maintained its position above the $4,200 mark, while major altcoins such as Solana\u2019s SOL (SOL), Dogecoin (DOGE), and Sui\u2019s native token (SUI) experienced modest dips of 3%-4%.<\/p>\n
One technical indicator drawing considerable attention from traders is a \u201cgap\u201d left in the CME futures market, which, unlike the 24\/7 crypto market, operates only on weekdays.<\/p>\n
This created a void between Friday\u2019s closing price of $117,430 and Monday\u2019s higher open at $119,000.[3] James Van Straten, senior analyst at CoinDesk, noted that historical precedent suggests Bitcoin often retraces to \u201cfill\u201d such gaps.<\/p>\n
\u201cHistory suggests that BTC could pull back to revisit and \u2018fill\u2019 that gap,\u201d he said.<\/p>\n
The market\u2019s next significant directional move may well be dictated by macroeconomic forces.<\/p>\n
The release of the US Consumer Price Index (CPI) on Tuesday, followed by Producer Price Index (PPI) data, is circled on every trader\u2019s calendar.<\/p>\n
These inflation reports are critical as they heavily influence the Federal Reserve\u2019s monetary policy, which in turn impacts investor appetite for risk assets like Bitcoin.<\/p>\n
This sentiment was echoed by analysts at the crypto exchange Bitfinex, who believe the continuation of Bitcoin\u2019s momentum is contingent on these US economic reports.<\/p>\n
\u201cWith market sensitivity to macro events running high, traders should prepare for increased volatility and the possibility of a retracement toward $110,000 in the near term,\u201d the Bitfinex analysts wrote in a Monday market report.<\/p>\n
They added, \u201cWe believe that the ranging conditions and oscillation between the range highs and lows will continue, since price is constantly moving above and below the cost-basis of fresh buyers allowing for charged sentiments around key macro data releases.\u201d<\/p>\n
Beneath the surface of the recent price surge, however, are signs that the rally lacked broad-based participation. In a recent report, the analytics firm Glassnode described the sharp rebound from below $114,000 as a shift from \u201cseller exhaustion to a strong rebound near recent ATHs.\u201d<\/p>\n
Yet, this recovery was not accompanied by a surge in spot market buying.<\/p>\n
Glassnode data revealed that spot trading volumes actually fell by 22% to $5.7 billion, a figure near the statistical low, suggesting the upward price movement was driven more by strategic \u201cpositioning shifts than deep conviction buying.\u201d<\/p>\n
While a metric known as the Spot Cumulative Volume Delta flipped 94% toward buy pressure\u2014a sign that aggressive selling has subsided\u2014it also points to renewed demand from a narrow base of traders rather than a widespread market rush.<\/p>\n
On the institutional front, the data presents a mixed, albeit slightly optimistic, picture. Outflows from US-listed spot bitcoin ETFs were halved, dropping to $311 million from $686 million in the preceding week, offering some relief.<\/p>\n
Even so, the total trade volume for these ETFs saw a 27.7% decline to $13.7 billion, indicating that overall activity remains subdued and close to its low band.<\/p>\n
The post Bitcoin eases from $122,000 high on profit-taking; CPI report looms<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s push toward new records was stopped by profit-taking, causing a price retreat from a high of $122,200 back to $118,500. A technical gap in the CME futures market between $117,430 and $119,000 has created a potential target for a short-term price pullback. Upcoming US inflation data, particularly the CPI, is considered the week\u2019s most […]<\/p>\n","protected":false},"author":0,"featured_media":4539,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-4538","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=4538"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/4539"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=4538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=4538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=4538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}