What to know:
- Bitcoin price jumped over 3% after softer US CPI data, strengthening bullish market momentum.
- Analyst Lennaert Snyder sees $65,600 as the next upside target while $63,300–$63,600 remains a key support zone.
- Technical indicators, including the RSI and Bollinger Bands, continue to favor further upside despite possible short-term pullbacks.
Bitcoin price holds gains after a strong upward push due to positive inflation figures. Analysts remain bullish even amid possible corrective moves in the coming days. Attention from investors shifts to building the upward trend while holding critical support levels.
At the time of writing, BTC is trading at $64,612, up 3% over the last 24 hours. The BTC recorded $48.49 billion in daily trading volume while maintaining a market capitalization of $1.30 trillion, reflecting renewed buying interest across the crypto market.
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Bitcoin Price Shows Bullish Strength
A crypto analyst, Lennaert Snyder, stated on July 15, 2026, that Bitcoin is performing well against the rally created by the current United States consumer price index report.
In the view of Snyder, the breakout of Bitcoin past its recent weekly high raises the probability of the old weekly low at $61,300 sustaining its role as a significant support level.
However, he confessed that although he had initiated a short trade upon recognizing the price exhaustion during the rally on Tuesday, it was an opportunistic move against the trend. His target prices coincide with areas he intends to initiate long trades.
The Snyder suggested two possible setups going forward. The first, which is the one that the analyst believes to be more optimistic in nature, involves Bitcoin temporarily sweeping liquidity at $64,300 before resuming the upward move. This setup will remain valid only if Bitcoin continues trading above $63,600.
The next scenario is related to an even stronger move to the $63,300 area, which might have some hidden buy orders that remained untouched due to the fast growth fueled by CPI. According to Snyder, such a move to $63,300 can create another chance for buyers to participate in trading. As far as the upside target is concerned, he still looks at $65,600.
Technical Indicators Continue Supporting BTC Price
The technical situation for the Bitcoin price remains bullish even after the current rally.
The BTC is currently trading at $64,612, which is above the mid-point of the Bollinger Band at $62,254. Meanwhile, the upper Bollinger Band is at $66,026, and there is still some room to move before the next resistance level.
Meanwhile, the Relative Strength Index (RSI) is currently trading at 55.38, which is higher than the signal line, 50.63. The RSI above 50 indicates that buying momentum has improved. On the other hand, the relative strength index has room left to rise further in case buying momentum increases.
Why the CPI Rally Matters
The rally in the Bitcoin price was attributed to good US inflation numbers. The lower levels of inflation make it more likely that there might be a more favorable monetary policy going forward.
Increased interest in rate-cut bets leads to increased investment in risky assets such as cryptocurrencies and technology stocks. Large economic releases like CPI statistics have served as important triggers for Bitcoin’s movements in the past two years.
The recent development demonstrates that Bitcoin continues to be influenced by both cryptocurrency and macroeconomic news.
What’s Next for Bitcoin After the CPI Rally
The Bitcoin price is heading into the second half of July with better technical levels along with increased conviction from the CPI-induced surge. But the performance in the $65,600 resistance range would decide its future course of action.
Bitcoin price maintains its overall positive outlook amid strong support, although some temporary corrections are not ruled out after a day’s sharp rise. Investors will focus on the economic data from America and the central bank clues for guiding Bitcoin and cryptocurrencies.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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