Bitcoin News Today: Bitcoin Holds Above $117.9K Amid U.S. Policy Uncertainty and Mixed PPI Data

Bitcoin’s price remains above $117.9K amid heightened uncertainty around U.S. monetary policy, according to a recent analysis by Bitunix. The mixed signals following the release of July Producer Price Index (PPI) data have contributed to a more cautious tone in the crypto market, with Bitcoin entering a range-bound phase [1].

The U.S. July PPI came in at +0.9% month-over-month and +3.3% year-over-year, both figures exceeding forecasts. The rise was primarily attributed to increases in services and trade margins. While this data suggests inflationary pressure remains, the market is left with conflicting interpretations on whether the Federal Reserve will pursue a substantial rate cut in September [1]. Adding to the ambiguity, U.S. Treasury Secretary Bessent’s recent remarks on the so-called “neutral rate” have further muddied expectations regarding future interest rate moves [1].

Bitunix highlighted Bitcoin’s recent price movement, noting that BTC briefly broke above a descending trendline and surged to $124.5K before retreating. As of the latest analysis, the price is trading above $119K, with $116.3K identified as a critical daily bull–bear pivot. The analyst’s heatmap data reveals a key “magnet” level at $119,625, where demand appears concentrated. However, a major supply zone exists between $124.6K and $126.8K, suggesting resistance in the event of a renewed rally [1].

Given the current environment of policy uncertainty, range trading has become dominant. The Bitunix analyst warns that while a break above $119,625 could trigger a test of the $120,800 and $124,600 levels—both associated with heavy liquidation activity—repeated failures to sustain above these thresholds may result in a pullback to as low as $117,900 or even $115,000 [1].

The evolving macroeconomic landscape, particularly around U.S. inflation and central bank policy, continues to shape Bitcoin’s price behavior. Investors remain cautiously positioned, with the market showing signs of exhaustion from recent volatility. The key for the near term will be whether BTC can establish a clear upward bias above $119,625 amid the ongoing tug-of-war between bulls and bears [1].

Source: [1] Bitunix Analyst: PPI Surprise Upside; BTC Holds $117.9K but Pullback Risks Remain (https://www.theblockbeats.info/en/flash/307567)