BlockBeats News, July 14th, Federal Reserve Chairman Powell is facing dual pressure from inflation and a weak job market. If there is no TACO (Trump always chickens out) event on August 1st, businesses may gradually raise prices due to profit pressure, leading to delayed inflation risks. A former Fed official stated that an early rate cut could lead to uncontrollable inflation expectations, while continuing to raise rates could trigger financial market turmoil, putting the Fed in a dilemma. The sentiment in the crypto market is high, with BTC continuing its strong breakthrough to $122,370. After a period of consolidation, it saw an explosive surge, sweeping away a large number of short positions in the past 24 hours. The next potential liquidation pressure level is expected to be in the $125,200–127,000 range.

Bitunix Analyst Suggestion:Currently, BTC has consecutively broken through multiple high-density short positions. The market sentiment is bullish, but the risk of chasing prices at highs has increased. For the short term, it is recommended to wait for a pullback confirmation at the $119,800–121,000 support level. If it successfully breaks $125,000, it will challenge the resistance zone above $127,000. In the medium term, a bullish view is maintained, with focus on the CPI data to be released on July 15th.