The Consumer Price Index for July revealed persistent inflation pressures. A reading above 2.8% year-over-year signals the Fed won't cut rates as aggressively as markets hoped, compressing valuations for risk assets like Bitcoin and tech stocks.
Bitcoin now faces three critical levels: $64,000 (major support just broken), $63,700–$62,000 (next deeper support), and $60,000 (psychological floor). A break below $63,700 signals further capitulation. A recovery above $64,500 targets $65,500 resistance.
Ethereum fell faster than Bitcoin, confirming that higher rates hurt growth assets more than stores of value. ETH broke $1,800 support, with XRP at critical $1.00 levels. Altseason momentum is on life support.
If you're holding, tighten stops at $63,700 (for Bitcoin) or $1,750 (for Ethereum). If you're looking to buy, accumulate on dips to $62,500–$63,000 (BTC) or $1,700–$1,750 (ETH). The macro uncertainty means position-sizing is critical.
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