Bitcoin Eyes All Time High Ahead of US CPI, PPI Data This Week

In the latest Bitcoin news, the BTC price is up by 3.6% in the last 24 hrs, surpassing $122,000, and eyeing a fresh all-time high ahead of the release of US CPI and PPI data this week. With 2025 being the post-halving year, market analysts expect a strong rally in August and Q4 this year, as per historical trends.

Macro economists also believe that inflation in July will tick up higher, driven by the Trump tariff effect. Thus, BTC is emerging as a safe haven amid these inflationary market conditions.

Bitcoin Shows Strength Amid Rising Inflation Concerns Before US CPI

BTC has formed a strong green candle, gaining more than 3.5% in the last 24 hours, and eyes a breakout from its previous all-time highs at $123,000. The recent upside came after BTC consolidated under $115,000 over the past week, with bulls charging once again. With the Golden cross pattern reappearing on the Bitcoin chart once again, analysts are confident of gains to $130,000 and beyond.

Popular crypto analyst Benjamin Cowen stated that BTC will close the month of August in green, as per the historical trends from the previous years. With two more weeks ahead of us and key inflationary data ahead, BTC investors will be on the edge.

Crypto analyst Benjamin Cowen has highlighted a recurring post-halving trend in Bitcoin price action. According to Cowen, BTC historically follows a similar pattern in each post-halving year, prices tend to rise in July and August. He further added that we might see some pullback moving into September, followed by a new market cycle peak in Q4.

Additionally, on-chain data shows strength in terms of new Bitcoin addresses. As per crypto analyst Ali Martinez, a total of 364,126 new BTC addresses have been created on a daily basis, hitting the highest in a year.

Meanwhile, the Bitcoin price is now correcting following its break above $122,000 today. Analysts have indicated that this decline is a result of the CME Gap, which BTC created following its rally over the weekend. Crypto analyst Titan of Crypto noted a gap between $118.300 and $119,000. He said that BTC could revisit this zone before resuming its uptrend.

US CPI, PPI Data on Radar As Inflationary Pressure Likely to Continue

According to market predictions, the US Consumer Price Index is likely to jump by 0.3% in July, which shows that inflationary pressure is expected to continue. Rising Trump tariffs are beginning to impact consumer prices in areas including household furnishings and recreational goods. With revisions in the US jobs data and the strength of the labor market being uncertain, many companies are seeking ways to reduce the tariff burden on price-sensitive customers.

Expectations of the Fed rate cuts are on the rise during September’s FOMC meeting. As per the Polymarket data, two rate cuts, for a total of 50 bps, have the highest weightage at 40%. However, since the jobs data revision, the expectations of a three-rate cut for a total of 75 bps have surged from 8% to more than 23% over the past week.