Bitcoin Slips to $110K Ahead of U.S. PCE Inflation Data.
Bitcoin price today: slips to $110K ahead of PCE inflation, on track for monthly decline.
FUNDAMENTAL OVERVIEW:
Bitcoin hovered near $110,000 in volatile trading on Friday as investors awaited key U.S. inflation data and assessed rising expectations of a Federal Reserve rate cut next month, amid lingering concerns over the central bank’s independence. Earlier this week, the token slipped to a seven-week low below $109,000 before rebounding slightly.
Despite the recovery, Bitcoin remains down over 10% from its August record high above $124,000 and is on track for its first monthly decline since April, with losses of around 4% after four consecutive months of gains.
Markets are focused on the U.S. Personal Consumption Expenditures (PCE) index—the Fed’s preferred inflation gauge—due later Friday. A weaker reading could strengthen the case for easing, while stronger data may dampen rate cut bets. Although often viewed as a hedge, Bitcoin tends to face pressure during times of heightened macroeconomic and political uncertainty. Meanwhile, altcoins traded mixed, mirroring Bitcoin’s range-bound tone.
BTC/USD TECHNICAL ANALYSIS CHART:
Technical Overview:
BTC/USD is trading within a down channel.
BTC/USD is moving below all the Moving Averages (SMA).
The Relative Strength Index (RSI) is in the Neutral Zone, while the Stochastic oscillator suggests a Negative trend.
Immediate Resistance level: 112054
Immediate support level: 107918
HOW TO TRADE BITCOIN
Bitcoin initially moved higher but soon lost momentum, entering a consolidation phase before breaking to the upside. However, BTC/USD failed to sustain the gains, reversing lower and breaking below its immediate support zone. The price is now retesting the broken level, and a rejection from this zone could trigger further downside movement.
