Overview
- Bitcoin traded between roughly $112,000 and $116,000 on Tuesday after touching $116,200 before sliding to the mid-$112,000s, with key resistance near $116k–$117.5k and support around $111k–$114k.
- Futures pricing points to a 96%–98% chance of a 25 basis‑point Fed cut to 3.75%–4.00% on Wednesday, which market participants view as the next major catalyst.
- Spot crypto products recorded renewed demand, with CoinShares citing $921 million of weekly inflows and Bitcoin ETFs taking in $149 million on Oct. 27.
- On‑chain liquidity looks strong as the Stablecoin Supply Ratio oscillator sits near cycle lows and about 4,657 BTC from 3–5‑year dormant wallets moved, according to Glassnode and CryptoQuant.
- Volatility indicators sit at extreme lows and derivatives saw large liquidations, while sentiment gauges such as the Bull‑Bear Structure Index turned positive, leaving markets sensitive to Powell’s remarks and the Trump–Xi meeting.