Bitcoin’s price action remained under pressure on Friday as Wall Street opened, with the leading cryptocurrency threatening to extend its September slump. Fresh U.S. inflation figures offered little relief for buyers, while sellers continued to dominate.
Liquidity weighs as BTC slides
TradingView data showed BTC/USD hovering dangerously close to breaking below the $109,000 threshold.
Order book activity suggested heavy liquidity buildup both above and below the spot price, creating zones that could accelerate volatility in either direction. On Binance, buy interest clustered near $108,200, while the $110,000 zone stood out with short liquidations, according to CoinGlass metrics.
Glassnode analysts highlighted that futures traders once again faced significant losses:
“Bitcoin futures endured another round of long liquidations as price slipped under $111K. This deleveraging cycle tends to flush excess leverage from the system and can pave the way for more stable market conditions.”
“BTC is clinging to its support. Holding here could spark a rebound toward $112,000, but a breakdown risks sending price to the $101,000 zone before any recovery.”
PCE report fails to spark momentum
Macroeconomic headlines made little difference to Bitcoin’s immediate direction.
The Personal Consumption Expenditures (PCE) index — the U.S. Federal Reserve’s favored inflation measure — landed exactly in line with forecasts at 2.7%.
The Kobeissi Letter pointed out that despite hitting a seven-month high, the figure won’t deter the Fed from continuing its rate-cut path:
“PCE inflation is at its highest since February 2025, yet rate cuts remain firmly on track.”
With inflation data failing to lift confidence, traders stayed focused on key support levels as September lows remained under threat.
