- Bitcoin remains in an 18-day trading range between $115,000 and $121,000 despite recent price swings.
- The release of Federal Reserve meeting minutes caused a sharp price drop, but Bitcoin quickly rebounded as markets shifted focus to fundamentals.
- Liquidity maps show significant buy interest around $111,000 and strong sell resistance at $121,100.
- Corporate purchases of Bitcoin have increased, with a reported 100:1 ratio of buyers to sellers each month.
- Recent U.S. policy statements are boosting confidence for institutions interested in allocating to Bitcoin, even though prices have not immediately responded.
Bitcoin traded steadily within an 18-day price range this week, despite a brief drop below $116,000 after the Federal Reserve published its minutes and held a press conference on interest rates. Markets initially reacted to the Fed’s decision not to cut rates, but prices later recovered as attention returned to underlying trends and policy developments.
According to market analysts at Hyblock Capital, price movements before and after the Fed’s announcement resembled a liquidity hunt, indicating uncertainty among traders. Their order book data showed increased chances of Bitcoin reaching a liquidation level near $115,883, while monitoring from Binance and Bybit identified ongoing risks of long positions liquidating below $115,000 and short liquidations above $120,000.
Aggregated order book data from TRDR.io indicated notable sell orders at $121,100 and strong buying support at $111,000. Cointelegraph analysts also noted compressed volatility, as measured by indicators such as Bollinger Bands and the 20-day moving average, suggesting that a larger move outside the current range could occur soon. While the market targeted downside liquidity after the Fed’s update, several positive trends remain.
Charles Edwards of Capriole Investments highlighted continued growth in corporate Bitcoin buyers. He reported that more than three companies are buying Bitcoin each day, with a current monthly buyer-to-seller ratio of 100:1. At the same time, data from SoSoValue showed a resumption of inflows to spot Bitcoin ETFs, with $641.3 million in net flows since July 23, following $285 million in outflows last week. Details are available in their ETF fund flow report here.
This week’s White House cryptocurrency report and a speech by SEC chairman Paul S. Atkins outlined policy objectives for the digital finance sector. According to the statements, these measures are intended to support broader cryptocurrency adoption and give institutional investors more clarity around increasing allocations to digital assets.
In the short term, analysts suggest that if selling pressure continues, Bitcoin could fall closer to $111,000, where large buy orders are located. For upward movement, analysts say buyers would need to push Bitcoin above $120,000 and secure a daily close beyond this resistance point.
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