Overview

• Bitcoin trades around $115,000–$116,000 after a Fed rate cut briefly lifted price to about $118,000; Joao Wedson highlights $117,000–$118,000 as the zone to beat, with confirmation above roughly $118,600.
• Key supports cluster at the weekly open near $115,219, the 14‑day VWAP around $114,500, and a daily fair‑value gap to about $113,355; a breakdown could expose $112,000–$108,000.
• Network activity reached a 2025 high as the 14‑day simple moving average of transactions climbed to roughly 540,000, reinforcing the current price structure.
• Spot demand remains firm with BlackRock’s IBIT recording about $3.1 billion of net inflows over 10 trading days and $246 million on Friday, helping absorb supply.
• Derivatives positioning skews bearish with the Futures Pressure Index near 32.5 and taker buy/sell ratios below 1, while spot data show a positive delta of about 447 BTC and ongoing exchange outflows.