Buckle Up, Buttercup! 🚀

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So, you want to know what’s going on with Bitcoin? Well, let’s get straight to it. Here are the key points:

  • Bitcoin tried to break through the $110,000 barrier, but it was like trying to get through a crowded pub on a Friday night – it just wasn’t happening.

  • Traders are saying that Bitcoin needs to show some more signs of strength before the bull market momentum can really get going again.

  • And, of course, there are the macro cues to consider, like next week’s CPI print, which could be a bit of a volatility bomb just waiting to go off.

So, Bitcoin had a bit of a run at $110,000 around the July 9 Wall Street open, but it was quickly rebuffed by sellers who were all like, “No, no, no, you’re not getting past us that easily!”

Data from CryptoMoon Markets Pro and TradingView showed that BTC/USD reached a high of $109,777 on Bitstamp before reversing, because, well, that’s just what it does sometimes. 🤷‍♂️

The pair is still stuck in a narrow range, and exchange order-book liquidity is looking pretty strong, especially around the $108,500 and $110,500 marks.

Crypto market participants are all aflutter, hoping that this is the start of something big. Popular trader Jelle wrote on X, “Almost all liquidity is to the upside. Stops above $110k are not safe.” Which is just a fancy way of saying, “Hold on to your hats, folks!”

Jelle also predicted a trip to $130,000 if bulls can manage to crack the $110,000 mark, which hasn’t seen a daily close since June 11. So, that’s something to look forward to, maybe. 🤔

#Bitcoin broke the bullish flag, retested it, and now pushes higher.

Clear $110k, and $130k is the next target.

You ready?

— Jelle (@CryptoJelleNL) July 9, 2025

And then there’s BitBull, who’s all about the relative strength index (RSI) data. He told X followers, “3D RSI and price are both forming an inverse head and shoulder pattern,” which is just a fancy way of saying, “It’s all about the charts, baby!”

“For breakout, we need one of these 2 things. Either a 3D close above $110K or a 3D RSI close above 70. After that, we’ll experience an up-only rally for 3-4 weeks.”

With the US trade-tariff debacle still unfolding like a bad soap opera, macro analysis is all about the upcoming volatility triggers for crypto and risk assets.

QCP Capital highlighted next week’s Consumer Price Index (CPI) print as part of the ongoing US inflation story, which is just a fancy way of saying, “Prices are going up, and we’re all going to be poor!”

This, they argued, would weigh on market expectations for Federal Reserve interest-rate cuts, potentially altering sentiment in the process. Because, you know, interest rates are like the secret ingredient in your favorite recipe – they can make or break the whole thing.

“Last week’s hot jobs data dampened rate cut optimism,” the bulletin observed, which is just a fancy way of saying, “The jobs market is doing well, but that’s not necessarily a good thing for interest rates.”

“Markets have scaled back expectations to two cuts in 2025, down from 2.5 previously. A July cut is all but priced out. September odds have slipped from 90% to 70%.”

QCP described Bitcoin as “well bid,” which is just a fancy way of saying, “People are buying it, and that’s good!” They also noted US dollar weakness and consistent institutional inflows, despite the precarious macro picture.

“With a reignited trade war, a more hawkish Fed, and tightening liquidity conditions, the stage is set for elevated volatility,” they concluded, which is just a fancy way of saying, ” Buckle up, buttercup, it’s going to be a bumpy ride!” 🚀

“Macro catalysts are lining up. Buckle up.”

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2025-07-09 18:12