Bitcoin Likely Range-Bound at $106K–$116K Post Fed Cut
Bitcoin has traded in a tight $106,000–$116,000 range for over two weeks as long-term holders accelerate selling, distributing roughly 104,000 BTC per month—the highest since July. Implied volatility in options markets remains subdued following October’s liquidation, signaling weak directional conviction among traders.
The Federal Reserve cut interest rates by 25 basis points to 3.75–4.0% and ended its balance-sheet runoff, injecting $25–35 billion in monthly liquidity. However, Fed officials remain divided on further rate cuts, creating uncertainty around future policy and market stability.
Mixed economic indicators—slowing wage growth, declining consumer confidence and lower Treasury yields—add to the market’s cautious stance. Bitfinex analysts warn that without renewed institutional demand or ETF inflows, Bitcoin will likely stay range-bound in November. A drop below $106,000 could test $100,000 support, while a sustained break above $116,000 may signal a recovery.
Beyond Bitcoin, ETHZilla sold $40 million in Ether for share buybacks, Western Union launched a USD stablecoin on Solana, and Canaan is deploying hydro-cooled Bitcoin miners in Japan. Traders should watch these developments for shifts in market demand and volatility.
Neutral
The news is likely to have a neutral impact on Bitcoin’s price. While the Fed’s rate cut and renewed liquidity support Bitcoin, accelerated long-term holder selling and muted implied volatility limit upside momentum. The absence of fresh institutional demand or ETF inflows suggests Bitcoin will remain in its current $106K–$116K range. In the short term, traders may see modest swings around key support at $106K and resistance at $116K. In the long term, a decisive break above resistance or renewed inflows will be required to shift the neutral bias.