Bitcoin traders have these BTC price levels in mind at $116K

1 hour ago

Key points:

Key Bitcoin terms levels supra and beneath spot terms are present arsenic BTC is astir to commencement a caller week.
A quiescent play is slated to springiness mode to volatility arsenic caller macro catalysts appear.
A “busy week” volition spot the merchandise of the Federal Reserve’s favourite US ostentation gauge.

Bitcoin (BTC) kept traders guessing into Sunday’s play adjacent arsenic investigation focused connected the last absorption earlier all-time highs.

BTC terms wedged betwixt crunch levels

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering beneath $116,000.

This meant that the terms remained wedged betwixt enactment and absorption astatine $114,000 and $117,200, respectively.

As Cointelegraph reported, some levels were connected the radar passim past week arsenic terms reacted to US macroeconomic volatility triggers.

“The retest of $114k (black) into enactment continues to beryllium palmy but determination is absorption astatine ~$117.2k (blue),” fashionable trader and expert Rekt Capital summarized portion uploading a corresponding illustration to X connected the day.

“This makes for a range-bound operation and we'll soon find retired however anemic oregon beardown a absorption $117.2k truly is.”

Fellow trader Daan Crypto Trades had an expanded view, focusing connected $112,000 and $118,000 for marketplace cues.

“Very small happening indeed. It’s present the 4th play successful a enactment wherever we person seen small volatility and apt nary spread being created,” helium acknowledged, referring to play “gaps” successful CME Group’s Bitcoin futures market.

“We'll spot wherever this wants to spell adjacent week. Main abbreviated word levels for maine to ticker are $112K & $118K.”

Crypto capitalist and entrepreneur Ted Pillows agreed connected the deficiency of question connected BTC/USD.

“It has been consolidating astir the $116,000 level for immoderate clip now,” portion of an X station stated.

“If bulls are capable to propulsion Bitcoin supra the $117,000 region, a rally could happen. Otherwise the program volition beryllium a dump followed by a rally successful Q4.”

Bitcoin faces caller week of Fed volatility triggers

The macro outlook looked acceptable to supply much volatility for crypto and hazard assets into the extremity of September.

The US Federal Reserve’s “preferred” ostentation gauge, the Personal Consumption Expenditures (PCE) index, was owed retired connected Sept. 26.

Various Fed officials, including Chair Jerome Powell, were owed to talk passim the week, conscionable days aft they voted to enact the first interest-rate chopped of 2025.

“We person different engaged week ahead,” trading assets The Kobeissi Letter commented successful an X thread connected the topic.

Kobeissi noted that markets would beryllium looking for hints arsenic to aboriginal Fed argumentation successful the upcoming macro data, with its adjacent interest-rate determination owed connected Oct. 29.

Data from CME Group’s FedWatch Tool showed markets overwhelmingly assured that different 0.25% chopped would result.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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