Bitcoin maintained a steady position above $109,000 on Wednesday, showing minimal volatility as key economic indicators and policy announcements created a balanced market sentiment. The cryptocurrency’s stability follows significant market activity that saw approximately $970 million in leveraged positions liquidated across exchanges, reflecting heightened trader caution.
The U.S. Bureau of Labor Statistics reported that core consumer price inflation, excluding volatile food and energy components, remained unchanged at 2.9% year-over-year in August. This figure matched economist forecasts and suggested persistent but contained inflationary pressures within the world’s largest economy.
Simultaneously, former President Donald Trump unveiled proposals for new tariff structures on imported goods, potentially impacting global trade flows and currency markets. The combination of stable inflation data and potential trade policy shifts created a complex backdrop for digital assets.
Market analysts noted that Bitcoin’s resilience near current levels demonstrates growing maturity in responding to traditional financial indicators. While the inflation reading alone might typically pressure risk assets, the cryptocurrency market appeared to weigh multiple factors including monetary policy expectations and geopolitical developments.
The substantial liquidation event, predominantly affecting overleveraged long positions, contributed to reduced speculative pressure and potentially healthier market foundations. Trading volumes remained elevated as institutional and retail participants assessed the implications of evolving macroeconomic conditions on digital asset valuations.
