Share this article
Bitcoin Pulls Back to $119K as Looming Inflation Data Could Bring Price Swings
Tuesday's CPI inflation data, followed by PPI report later this week, could make or break bitcoin's momentum, Bitfinex analysts said.
Aug 11, 2025, 10:16 p.m.
What to know:
- Bitcoin's overnight surge above $122,000 met with heavy selling, pushing prices below $119,000 later in the U.S. session.
- Ether held up above $4,200, while major altcoins SOL, DOGE, SUI declined 3%-4%.
- Bitfinex analysts suggest BTC's momentum will depend on upcoming U.S. CPI and PPI inflation data, with potential for increased volatility.
Bitcoin’s overnight push towards fresh records met with profit-taking on Monday, knocking prices down to $118,500.
The pullback left bitcoin 2.8% off its session high of $122,200, though the largest crypto remained up 0.4% over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ether held above $4,200, modestly up 0.8% during the same period, while major altcoins Solana’s SOL , and Sui's native token (SUI) slipped 3%-4%.
James Van Straten, senior analyst at CoinDesk, noted that bitcoin’s weekend rally left a gap in the CME futures market, which trade only on weekdays, between Friday’s close at $117,430 and Monday’s open at $119,000. History suggests that BTC could pull back to revisit and "fill" that gap, he said.
Tuesday’s U.S. Consumer Price Index (CPI) report could be the week’s biggest catalyst for traders, with Producer Price Index (PPI) data following later in the week.
Whether bitcoin's momentum continues will likely depend on those U.S. macroeconomic data reports, Bitfinex analysts said in a Monday market report.
"With market sensitivity to macro events running high, traders should prepare for increased volatility and the possibility of a retracement toward $110,000 in the near term," the Bitfinex analysts wrote.
"We believe that the ranging conditions and oscillation between the range highs and lows will continue, since price is constantly moving above and below the cost-basis of fresh buyers allowing for charged sentiments around key macro data releases," they added.
Read more: Watch Out Below: Bitcoin’s Weekend Surge Leaves CME Gap
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
