- Bitcoin surged after favorable CPI numbers, printing its largest hourly candle in months.
- Over $540M in taker buy volume within one minute highlighted rare institutional-scale market activity.
- Bitcoin now consolidates near $113K, with $114.5K resistance and $113K support shaping the next move.
Currently, Bitcoin is trading in the above 113,800 following a day of high movements. Price is at levels above the pre-breakout but it is consolidating in the range of 113,000 to 114,200. The continuation is subject to cross $114,500 resistance or breaking support of above 113,000.
CPI Release and Immediate Market Reaction
The Consumer Price Index data created an immediate response across global markets, and Bitcoin registered the most dramatic shift. The cryptocurrency moved higher within minutes as buyers aggressively lifted offers, creating an imbalance in liquidity. This imbalance propelled the largest hourly candle seen in recent months.
Aggressive buy-side action emerged with over $500 million in net taker volume on Binance alone. Such inflows overwhelmed available sell orders and forced prices upward. The data acted as the clear trigger for this coordinated surge in trading activity.
The market response reflected both macroeconomic sensitivity and structural momentum within digital assets. Price data had been consolidating before the release, leaving room for a sharp move. The candle reset short-term expectations and signaled that participants were willing to reprice quickly.
Extraordinary Buy Volume and Price Response
Further confirmation of the scale arrived when taker buy volume across all exchanges exceeded $540 million within a single minute. This burst of liquidity represented one of the rarest order flow events recorded in recent months. The grey line on exchange charts showed Bitcoin testing levels above $112,600 during this exact period.
Source: barchart.com
Such moves indicated limited sell-side liquidity and revealed how quickly upward orders gained control. Sellers stepped back, allowing buyers to dictate direction with speed. The lack of resistance in the book reflected a decisive shift in balance.
This imbalance triggered follow-on effects that included liquidation of short positions. Forced exits further fueled the upward spike and reinforced momentum. As a result, Bitcoin established new support around the $113,000 level.
Broader Trend and Market Stabilization
Looking beyond the hourly move, Bitcoin has shown a six-month rally from below $90,000 to above $120,000. This trend included strong expansion between May and July, when price levels consistently printed higher highs and higher lows. Volatility emerged later as resistance formed near $120,000.
Source: Santiment.
By August, the market shifted into a corrective phase, with retracements toward $112,000 before stabilizing. Current action indicates that Bitcoin is consolidating and reestablishing support. This stabilization remains critical for determining the next major directional move.
Currently, Bitcoin is trading in the above 113,800 following a day of high movements. Price is at levels above the pre-breakout but it is consolidating in the range of 113,000 to 114,200. The continuation is subject to cross $114,500 resistance or breaking support of above 113,000.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
