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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.

By Krisztian Sandor
Aug 11, 2025, 10:16 p.m.
Volmex's volatility futures register over $10M in volume in one month. (Dimitris Vetsikas/Pixabay)
CPI, PPI inflation data this week could bring volatility. (Dimitris Vetsikas/Pixabay)

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.

In this article

BTCBTC$78,554.25◢2.48%ETHETH$2,319.89◢4.06%LTCLTC$60.11◢3.53%

Bitcoin’s BTC$78,554.25 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.

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Ether held above $4,200, modestly up 0.8% during the same period, while major altcoins Solana’s SOL SOL$103.95, DOGE$0.1069 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

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