After a week of intense volatility, Bitcoin price has rebounded to $107,000, showing renewed strength just days before crucial U.S. economic data is released. The recovery follows a sharp intraday swing last week that saw BTC dip below $104K before surging nearly 4% in 48 hours.
Analysts are watching the chart closely as Bitcoin forms a potential higher low on the daily timeframe. Market sentiment has improved slightly, but short-term traders remain cautious ahead of Thursday’s core PCE inflation data and the latest U.S. GDP figures.
Market Braces for Macro Signals
The short-term bounce has reignited bullish hopes, but macroeconomic events could shift the momentum quickly. The Personal Consumption Expenditures (PCE) index, considered the Fed’s preferred inflation gauge, will be released on Thursday. Any surprise in the data could increase speculation around interest rate cuts, which historically boost crypto assets.
Alongside inflation numbers, the U.S. GDP revision will provide insight into economic resilience, which is being interpreted as a key input for institutional capital allocation.
“Bitcoin’s latest recovery is encouraging, but markets are in ‘wait and see’ mode until we get a clearer macro picture,” one analyst noted on X.
Technical Picture:Bitcoin Price Bullish Structure Still Intact
The chart shows Bitcoin forming a tight upward channel since early May, with repeated support near the $102K–$104K range. The $108K zone now acts as short-term resistance, while the psychological $110K barrier continues to be the key level to reclaim for bullish continuation.
Source: Tradingview
Volume has picked up slightly, suggesting buyers are stepping in on dips. However, breakout confirmation is still lacking, and many traders are looking for decisive moves above recent highs before declaring a new leg up.
Final Thoughts: What to Watch as BTC Eyes $110K
Bitcoin’s current rebound is promising but fragile. As the asset hovers just below the critical $110K mark, the next few days could be pivotal. Traders and institutions alike are watching macro indicators for clarity on the Fed’s direction—and Bitcoin’s next move could depend on whether inflation cools faster than expected.
If inflation data is favorable and GDP remains strong, we may see another wave of risk-on appetite that pushes BTC beyond its recent range. Otherwise, consolidation may continue well into July.
