Bitcoin Price Hits $116K as CME Gap Looms Ahead of FOMC

Published: 2025-10-29 03:41:03 |

Bitcoin price surged above $116,000 during Wall Street trading, gaining 1.6% as traders prepare for the Fed’s FOMC rate decision. With a 25bp cut widely anticipated, Bitcoin price retested resistance near $117,000. Analysts highlight an inverse correlation with gold, driving bullish momentum, while cautioning on a potential pullback to fill the CME futures gap around $111,000. Bitcoin price faces low trading volumes and bearish technical divergences, raising questions about the rally’s sustainability. Traders are monitoring on-chain indicators and Fed Chair Jerome Powell’s comments for clearer policy guidance. This mixed outlook underlines the balance between short-term upside potential and correction risks ahead of the FOMC meeting.

Neutral

Bitcoin price shows bullish momentum driven by rate-cut expectations and an inverse correlation with gold, yet low volumes and bearish divergences cast doubt on the rally’s sustainability. The potential to retest resistance at $117K is balanced by the risk of a pullback to fill the CME gap near $111K. Traders await clearer signals from Fed Chair Powell, resulting in a neutral short-term outlook.