Bitcoin breakout to $120K on radar as markets forget Fed July rate cut

Quick Summary:

Yes my macro views believe the $BTC bull is close to over but there’s still some room for short term upside,” he told X followers. “Break 108 resistance and 120 is possible.”Market rate cut odds “adjusted” after CPIMacro influences were less pronounced on the day thanks to a gap in US inflation data releases.

Interest rate cuts in the first half of 2025, a would-be risk-asset tailwind, were being increasingly priced out.“US CPI came in below expectations, providing a welcome reprieve to inflation worries and bolstering bets on rate cuts,” QCP wrote in its latest bulletin to Telegram channel subscribers. “Still, the Fed remains cautious.

It's all just a big shake-out range in before another break-out 📈 againPATIENCE$BTC pic.twitter.com/5BSUTzPLoM— Phoenix (@Phoenix_Ash3s) May 14, 2025“Even though $BTC looks great IMO, I still stand by the fact that it probably moves sideways from here for a while, which would probably be great news for alts tbh,” popular trader Byzantine Trader wrote in one of his latest posts on X. “If BTC remains calm, then alts can do their own thing for a bit.”BTC/USDT 4-hour chart.

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Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United StatesOman

Topics: First Traders Macro Trader Prior Rate Price Upside Data Latest Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-14 @ 16:54:11 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28715768

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