Bitcoin will test the level of USD 110K while a macro analysis advises traders to "prepare"

The price performance of bitcoin frustrates bulls, as USD 110,000 remains out of reach, but the clock is ticking towards even greater volatility in risk assets.

Bitcoin will test the level of USD 110K while a macro analysis advises traders to "prepare"

Market update

Key points:

Bitcoin is unsuccessfully trying to surpass USD 110,000 as liquidity increases.

Traders claim that more signs of strength are needed to reactivate the market's bullish momentum.

Macroeconomic signals include the upcoming release of the CPI next week as a potential date for volatility.

Bitcoin

BTC

€94,627

attempted to reach USD 110,000 around the opening of Wall Street on July 9, as sellers lined up to keep the price stable.

1-hour BTC/USD chart. Source: Cointelegraph/TradingView

Bitcoin bulls stumble before reaching USD 110,000

Data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD pair reached USD 109,777 on Bitstamp before reversing.

Still trapped in a narrow range, the pair was contained by the exchange's order book liquidity, which strengthened around the movement.#Write2Earn #bitcoin