On August 15, U.S. July PPI came in at +0.9% MoM and +3.3% YoY, both above expectations. Gains were driven by services and trade margins, creating mixed interpretations for the odds of a substantial September rate cut. U.S. Treasury Secretary Bessent’s comments on the “neutral rate” added to policy uncertainty. Risk appetite in crypto has cooled, and BTC price action has shifted into a range-bound mode.
Bitunix Analyst’s View: BTC recently broke above a descending trendline and rallied to $124.5K before pulling back. Price is now above $119K, with $116.3K as the daily bull–bear pivot. Heatmap data shows $119,625 acting as a “magnet” level, with supply concentrated at $124.6K–$126.8K. Under current policy noise, range trading dominates. Acceptance above $119,625 could open a test of the $120,800 and $124,600 liquidation zones; repeated rejections risk a move back to $117,900 or even $115,000.
