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Bitcoin Pricing $29,500 CPI As Forecasts Divide Again On US Inflation Peak

As of today’s Bitcoin (bitcoin), markets hover around $29,500 as we read the US Consumer Price Index (CPI) data.

Hourly BTC/USD chart. Source: TradingView

Trader Warns Bitcoin ‘Doll’ Despite CPI Volatility

datas Cointelegraph Markets Expert And Trade View It shows that the BTC price stabilized before the release of the CPI, which is itself a classic volatility catalyst.
The CPI is one of the key elements for the Federal Reserve when determining its interest rate policy. Last month’s June figure was the lowest in two years and expectations further decline for July.
“3.3% is what we expected, but will we be able to get it and how will the markets behave?” asks for X Michael van de PoppeFounder and CEO of trading company Eight.
Van de Poppe points out that the CPI is likely to rise. puts risky assets under pressureincluding cryptocurrencies that support a lax Fed policy.
JPMorgan Chase is among those warning of a re-acceleration in CPI values.
“The greatest uncertainties surround two issues that were previously thought not to affect July data: the direct and indirect price flows of recent energy and food increases, and the relative persistence of services inflation.”the economist explains Mohamed El-Erian part of the daily analysis.
“With today’s CPI, I think Bitcoin and cryptocurrencies will give us some fun, but I’m finally leaning a little bit”famous merchant claim Mark Cullen.

“BTC is in the range again and fails to hold yesterday’s $29,500, but if it can’t get right up and hold, I will expand my open position.”

Interpreted chart of BTC/USD. Source: Mark Cullen/X

Despite everything, The same market forecasts for rate hikes favor a hiatus at the next meeting of the Federal Open Market Committee. (FOMC) September.
According to this FedWatch Tool The probability of CME Group taking a break at the time of this writing is over 85%.

Probability chart of Fed target rates Source: CME Group

Major support for BTC buyers below $29,000

Meanwhile, monitoring resource Material Indicators presented the liquidity conditions for Binance’s BTC/USD order book.

Related: Bitcoin Risks a 15% Drop by October to $100,000 Expected in 2026

They reveal the potential for a sudden drop due to the lack of supply support just below the current spot price.
“Let’s not speculate on what the CPI and Jobs reports will look like in the morning. By 8:30 we will learn about the soft landing narrative and how these numbers will affect the Fed’s decision to increase interest rates in September. What matters between now and then is where liquidity is accumulating and where. decreased”reads some Comment.

“Price can move quickly in dark, illiquid areas as there is little or no friction. Conversely, the more liquidity around the buy/sell walls, the more isolated these levels are.”

BTC/USD order book data for Binance. Source: Priority Indicators/X

This article does not contain investment advice or advice. Every investment and trade involves risk and readers should do their own research before making a decision.

Translation of Walter Rizzo

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