Bitcoin Breakout for radar $ 120,000, because the markets forget about the reduction of the July rate

Key points:

Bitcoin still ranges around USD 103,000 because the bulls are fighting to keep the momentum.
Traders favor low -term profits from the BTC price ultimately return, while the overall faith on the bull market differs.
Fed’s rates seem more and more far, despite encouraging inflation data.

Bitcoin (BTC) hugged a familiar territory around Wall Street from May 14, when traders waited for freshly American macro tips.

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

Trader: BTC needs $ 108,000 for a breakthrough

Data from CointeLraph Markets Pro i TradingView He showed USD 103,000, remaining a BTC price magnet.

Bulls managed another journey to $ 105,000 a day earlier, and the momentum is not there after there was no quick profits in the first half of the month.

Now traders have looked at consolidation before returning to volatility, and the forecasts were conducive to further growth.

It’s all just a vast range before the next break 📈

PATIENCE$ Btc https://t.co/t9vnusoiqa pic.twitter.com/5bsutzmw

– Phoenix (@phoenix_ash3s) May 14, 2025

“Although $ BTC looks great, I have been moving away for a long time, that it probably moves sideways, which would probably be great news for Alts TBH,” wrote a popular Byzantine trader trader in one of his own Latest posts on X.

“If BTC remains calm, Alts can do a little.”

*4-hour BTC/USDT table. Source: Byzantine General/X*

Despite the fact that the Bitcoin Bull market rests earlier, and not later, colleague trader Roman agreed that the higher maxima would be the highest.

“I am looking for more items if we can continue to consolidate here as a consolidation = continuation of the trend. Yes, my views on macro believe that $ btc bull is close, but there is still some room for a short -term position”, he he said X followers.

“Break 108 Resistance and 120 is possible.”

Specialization of the “Correct” market rate after CPI

Macro influence was less clear during the day thanks to the gap in the inflation versions in the USA.

Related: BTC Bulls receives a “largest signal” – 5 things to get to know this week

From day to day, lower than the expected consumer price rate (CPI) did not cause a fresh cryptographic rally, with the number of eyes to the manufacturer’s price index (PPI) on May 15.

Commenting, the QCP Capital Commercial Firma emphasized that the policy of the Federal Reserve dictates market expectations. Interest rate discounts in the first half of 2025, the Niegor-Wiatr at such a risk were increasingly valued.

“CPI in the USA was below expectations, providing a welcome relief for worries of inflation and strengthening factories for rates,” wrote QCP in his Bulletin for subscribers Telegram Channel.

“Still, the Fed remains cautious. At the last meeting, officials repeated the position depending on the data, marking the uncertain lower effects of tariffs both on unemployment and inflation.”

*Providing the probability of the target rate (screenshot). Source: CME Group*

Data from the CME group Fedwatch tool Place the September Fed meeting as a probable opportunity to provide the next cut.

“Market prices have also corrected properly, and two rate discounts are now expected in 2025, compared to four just a month earlier,” added QCP.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.