Bitcoin showed no sign of a major rebound after the release of major US inflation data, with bid liquidity clustered at $108,200.
Market Update
Key points:
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Bitcoin sellers attempt to break support at $109,000 at the week’s final Wall Street open.
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BTC price action can head toward $100,000 as a result, despite a large “deleveraging” event.
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US PCE inflation offers no relief for crypto bulls.
Bitcoin () threatened new September lows at Friday’s Wall Street open as US inflation data failed to buoy bulls.
Liquidity stacks up as Bitcoin price falls further
Data from and showed that BTC/USD risked a breakdown below $109,000.
Exchange order-book liquidity remained thick on either side of the spot price, providing both upside and downside “magnets” for momentum.
On the largest global exchange, Binance, bids were clustered around $108,200, with short liquidations due at $110,000 and up, per data from CoinGlass.
“Bitcoin futures saw another wave of long liquidations as price moved below $111k,” onchain analytics platform Glassnode in a post on X.
“This flush of leverage reflects a broad deleveraging event, often resetting market positioning and easing the risk of further cascades.”
Still, Traders remained risk-averse, with BTC price targets toward $100,000 becoming more popular.
“$BTC is hovering just above its support level,” one market take from crypto investor and entrepreneur Ted Pillows on the day.
“If this level holds, Bitcoin could rally towards $112,000. In case of a breakdown, BTC will retest $101,000 support region before reversal.”
PCE data preserves Fed rate-cut bets
Macroeconomic events had little perceptible impact on the crypto market trajectory.
Related:
The Personal Consumption Expenditures () index, known as the US Federal Reserve’s “preferred” inflation gauge, arrived in line with expectations at 2.7%.
Reacting, trading resource The Kobeissi Letter concluded that while PCE was at seven-month highs, the Fed would press ahead with the sorely wanted by crypto and risk-asset traders.
“PCE inflation is at its highest since February 2025. Yet, the Fed will keep cutting rates,” it X followers.
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