🔥 ATH and Pullback
BTC hit a new ATH at $123,218 but dipped to $117,500 today. This decline comes as markets eye the upcoming US CPI, expected at 2.7% YoY for June, sparking caution over inflation.
💰 Spot Market Support
Spot volume jumped 50% since July 9, while futures rose 31.9%, showing healthy interest. Yet, both remain below 2025 averages, signaling cautious optimism. Key demand zone between $114K–$117.5K holds over 189,590 BTC, acting as a price cushion.
📈 Bounce or Dip?
BTC is up 9% this month but risks dipping to $115K before rebounding to $120K. If inflation surprises and triggers rate fears, BTC could test $110K, risking a deeper correction.
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