Highlights:
Sellers of Bitcoin are trying to breach support at $109,000 during the final Wall Street open of the week.
The BTC price could potentially fall to $100,000 due to a significant “deleveraging” event.
The US PCE inflation data provides no comfort for crypto enthusiasts.
Bitcoin (BTC) flirted with new September lows during Friday’s Wall Street opening, as US inflation data didn’t support bulls.
Liquidity builds as Bitcoin’s price continues to drop
Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD was at risk of falling below $109,000.
Liquidity in exchange order books remained robust on both sides of the spot price, acting as potential upside and downside “magnets” for momentum.
On Binance, the largest global exchange, bids were concentrated around $108,200, with short liquidations expected at $110,000 or higher, according to CoinGlass data.
“Bitcoin futures experienced another wave of long liquidations as the price dipped below $111k,” reported onchain analytics platform Glassnode in a post on X.
“This flush of leverage indicates a broad deleveraging event, often resetting market positioning and reducing the risk of further cascades.”
Nevertheless, traders remained cautious, with BTC price targets toward $100,000 gaining traction.
“$BTC is hovering just slightly above its support level,” noted crypto investor and entrepreneur Ted Pillows in a comment.
“If this level holds, Bitcoin could surge toward $112,000. However, if it breaks down, BTC might retest the $101,000 support area before a reversal.”
PCE data maintains Fed rate-cut expectations
Macroeconomic events had minimal discernible effect on the trajectory of the crypto market.
Related: Bitcoin faces highest level of fear since $83K as analysis anticipates a ‘turning point’
The Personal Consumption Expenditures (PCE) index, recognized as the US Federal Reserve’s “preferred” inflation measure, met expectations at 2.7%.
In response, trading resource The Kobeissi Letter concluded that while PCE had reached seven-month highs, the Fed would continue to pursue the interest-rate cuts desired by crypto and risk-asset traders.
“PCE inflation is at its peak since February 2025. However, the Fed will persist in its rate-cutting efforts,” it informed X followers.
This article does not offer investment advice or recommendations. Every investment and trading decision carries risk, and readers should conduct their own research before making any decisions.
