Overview
- Bitcoin trades in the low $109,000–$111,000 range after a post‑Fed sell‑off, with $112,000–$113,000 flagged as the zone to regain bullish control.
- $117,000 is identified as the Point of Control and a key battleground that bulls must reclaim to restore momentum.
- Liquidity heatmaps show sell‑side orders clustered above price between roughly $111,000 and $117,000, setting up the potential for a short‑squeeze if price lifts.
- On‑chain data shows exchange reserves have fallen with over 200,000 BTC withdrawn in October, tightening supply even as some long‑term holders take profits.
- The slide followed the Federal Reserve’s 25 bp rate cut and QT signals, with technical support levels watched at $108,500 and around $106,000 if $110,000 gives way.