{"id":57552,"date":"2025-08-12T03:16:27","date_gmt":"2025-08-12T03:16:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-eases-from-122000-high-on-profit-taking-cpi-report-looms\/"},"modified":"2025-08-12T03:16:27","modified_gmt":"2025-08-12T03:16:27","slug":"bitcoin-eases-from-122000-high-on-profit-taking-cpi-report-looms","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-eases-from-122000-high-on-profit-taking-cpi-report-looms\/","title":{"rendered":"Bitcoin eases from $122,000 high on profit-taking; CPI report looms"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/image-10-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/image-10-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/image-10-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/image-10-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>Upcoming US inflation data, particularly the CPI, is considered the week\u2019s most significant catalyst for potential market volatility.<\/li>\n<\/ul>\n<p>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<p>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<div class=\"ad-banner  container  pt-1  px-0  mb-6\" data-partner=\"bitcoinpenguin\">\n        <a href=\"https:\/\/bitcoinpenguins.io\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img decoding=\"async\" class=\"p-0  m-0\" src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/bitcoinpenguin\/en.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<p>After reaching a session high of $122,200, Bitcoin (BTC) saw its momentum fade, retreating 2.8% to land at $118,500.<\/p>\n<p>Despite the pullback, the digital asset remained slightly positive over a 24-hour period.<\/p>\n<p>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<p>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<p>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<p>\u201cHistory suggests that BTC could pull back to revisit and \u2018fill\u2019 that gap,\u201d he said.<\/p>\n<h2>Economic crosswinds<\/h2>\n<p>The market\u2019s next significant directional move may well be dictated by macroeconomic forces.<\/p>\n<p>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<p>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<p>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<p>\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<p>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<h2>A rally built on shaky ground?<\/h2>\n<p>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<p>Yet, this recovery was not accompanied by a surge in spot market buying.<\/p>\n<p>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<p>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<p>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<p>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<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-eases-from-122000-high-on-profit-taking-cpi-report-looms\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) 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 [&hellip;]<\/p>\n","protected":false},"author":3947362378,"featured_media":57553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/57552"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362378"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=57552"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/57552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/57553"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=57552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=57552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=57552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}