Bitcoin Exhausted at $110K — Powell’s Patience Freezes the Bulls
The market wanted fireworks after CPI came in at 3.0% vs 3.1% expected, but Jerome Powell poured cold water on the idea of a rate cut. His words — “We’ll stay patient; inflation’s still above target” — were enough to drain every drop of liquidity optimism.
Bitcoin’s chart is starting to show fatigue. Price hovers near $110,500, but every push toward $111K gets slapped back with long wicks and fading green volume. Sellers are getting bolder, buyers are getting tired — and the data agrees. Open interest keeps rising, yet pro traders are quietly trimming risk while retail stays overexposed. Classic late-cycle energy.
If $109.7K gives way, momentum could slip quickly toward $107K, and even $105K if the weakness compounds. Only a solid reclaim above $112.7K flips the short-term bias bullish again.
For now, Powell’s tone means no new liquidity, no new lifeline. Bitcoin’s running hot, but on thin air — and when compression breaks, it rarely whispers.
