Bitcoin Rangebound at $110K–$116K Before Fed Cut & Talks
Bitcoin is trading in a tight $110,000–$116,000 range as traders await this week’s key catalysts: the Federal Reserve’s expected 25 basis-point rate cut and the US-China trade summit. Technical indicators show that a daily close above $116,000 is needed to confirm a bullish breakout, but heavy sell walls around $116,000–$118,000 on Binance and Coinbase are capping upside. Futures markets have seen $49.8 million in short liquidations over the past 12 hours, and open interest has recovered to $31.5 billion from $28.1 billion, though still below the $40.4 billion peak. Spot Bitcoin ETFs recorded $260 million in net inflows over the past three days, including $477 million on Oct. 21. On-chain data indicates large investors are selling rallies while retail traders buy dips around $112,000–$113,000, prompting traders to trim leverage ahead of these events. Until the Fed decision and trade talks conclude, volatility is likely to persist, keeping Bitcoin in its current trading band.
Neutral
In the short term, Bitcoin’s $110K–$116K range reflects traders’ caution ahead of major macro events, with heavy sell walls and reduced leverage keeping volatility contained. Large ETF inflows and short liquidations offer bullish support, but until the Fed decision and US-China summit provide clarity, the market is likely to remain sideways. Over the long term, a confirmed close above $116K could trigger a stronger bullish trend, while a breakdown below $110K might lead to deeper corrections, underscoring the reliance on these catalysts for direction.