BTC USD price steadied near $109,000 on Friday after US inflation data aligned with expectations, leaving sellers pressing support into the Wall Street open.
The move came as Elon Musk’s Grok AI maintained a call that September will likely close near current levels.
The Fed’s preferred inflation gauge, the core personal consumption expenditures (PCE) index, showed a +2.9% annual rise in August, while headline PCE climbed 2.7%. Both matched the economist forecasts.
(Source: US PCE index change: US Beaurea)
The lack of surprise muted market reaction. Traders said the reading, though above the Fed’s target, still allows room for a possible October rate cut.
That prospect helped limit downside but failed to spark fresh buying after a week of heavy liquidations.
According to CoinGlass, order-book data showed bid support clustering around $108,200 on Binance, while liquidation levels sat just above $110,000.
(Source: Coinglass)
Glassnode reported “another wave of long liquidations” when BTC dipped below $111,000 earlier in the session, calling the slide part of an ongoing deleveraging cycle.
Intraday, BTC stayed pinned near $109,000, with bears grinding through local support.
Analysts flagged $107,000-$108,000 as the next test below and $112,000-$117,000 as resistance above, following what has been the largest deleveraging event of 2025 so far.
The Kobeissi Letter noted that even with PCE at a seven-month high, “the Fed is still expected to continue cutting rates.” That backdrop eased pressure on the downside but left markets without momentum for a rebound.
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A crypto analyst has warned that Bitcoin may be entering its largest bear market to date, with MicroStrategy’s holdings at the center of concern.
The analysis points to Bitcoin trading in the mid-$80,000 range, below its estimated average cost basis. A chart shared alongside the warning outlines a path where prices could weaken further into 2026.
If Bitcoin fell toward $65,000 or even $45,000, the analyst suggests MicroStrategy could be forced to sell part of its 639,835 BTC stash.
The company, led by executive chairman Michael Saylor, has built the largest corporate Bitcoin treasury over the past four years. Its aggressive use of leverage has been both praised and questioned.
(Source: X)
With an average purchase price of nearly $70,000, extended losses below that level could place heavy pressure on its balance sheet.
