Key points:

• Bitcoin sellers attempt to break support at $109,000 at the week’s final Wall Street open.

• BTC price action can head toward $100,000 as a result, despite a large “deleveraging” event.

• US PCE inflation offers no relief for crypto bulls.

Bitcoin (BTC) threatened new September lows at Friday’s Wall Street open as US inflation data failed to buoy bulls.

Liquidity stacks up as Bitcoin price falls further

Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD risked a breakdown below $109,000.

Exchange order-book liquidity remained thick on either side of the spot price, providing both upside and downside “magnets” for momentum.

On the largest global exchange, Binance, bids were clustered around $108,200, with short liquidations due at $110,000 and up, per data from CoinGlass.

“Bitcoin futures saw another wave of long liquidations as price moved below $111k,” onchain analytics platform Glassnode summarized in a post on X. 

“This flush of leverage reflects a broad deleveraging event, often resetting market positioning and easing the risk of further cascades.”

Still, Traders remained risk-averse, with BTC price targets toward $100,000 becoming more popular.

“$BTC is hovering just above its support level,” one market take from crypto investor and entrepreneur Ted Pillows read on the day. 

“If this level holds, Bitcoin could rally towards $112,000. In case of a breakdown, BTC will retest $101,000 support region before reversal.”

PCE data preserves Fed rate-cut bets

Macroeconomic events had little perceptible impact on the crypto market trajectory.

Related: Bitcoin sees most fear since $83K as analysis eyes ‘turning point’

The Personal Consumption Expenditures (PCE) index, known as the US Federal Reserve’s “preferred” inflation gauge, arrived in line with expectations at 2.7%.

Reacting, trading resource The Kobeissi Letter concluded that while PCE was at seven-month highs, the Fed would press ahead with the interest-rate cuts sorely wanted by crypto and risk-asset traders.

“PCE inflation is at its highest since February 2025. Yet, the Fed will keep cutting rates,” it told X followers.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.