After briefly soaring past $123,000 on July 14, BTC fell sharply to $116,221, before stabilizing just above $117,000 on July 15. This sudden pullback ended a rapid four-day rally, during which bitcoin posted double-digit gains and increased its market dominance to 63%.
Analysts point to rising geopolitical tensions as a major factor behind the reversal. In a BBC interview, U.S. President Donald Trump threatened to impose new tariffs on Russia if a ceasefire in Ukraine isn’t reached within 50 days. The comments, along with increased U.S. military aid to Ukraine, raised fears of further escalation and global uncertainty.
Meanwhile, economic data added pressure. June CPI forecasts suggest a 0.3% monthly rise, driven by oil prices and potential tariff impacts, casting doubt on a near-term Fed rate cut. According to CME data, the odds of a rate cut in September have now dropped to 60%.
The sharp decline also led to massive liquidations in crypto markets. Over $380 million in long BTC positions were wiped out in just 24 hours, reversing the $1 billion short squeeze earlier in the week.
Analysts at Bitunix emphasize the importance of the $117,000–$116,300 support zone. Holding this level may spark a recovery, while breaking below could push BTC toward the next key level at $110,500. Traders are advised to wait for clearer signals — especially from upcoming CPI data — before making moves.
Source: news.bitcoin.com
Published: 2025-07-15 15:05:00
