Overview

• Bitcoin traded around $114,600 after breaking a short-term bearish trend line, with immediate hurdles near $114,750 to $115,500 and support clustered at $113,500 to $110,500.
• Twenty-four hour trading volume jumped about 70% to $58.8 billion, while renewed demand for spot ETFs such as BlackRock’s IBIT and Fidelity’s FBTC underpinned the rebound.
• On-chain readings cited by CryptoQuant contributors point to long-term holder accumulation and shrinking exchange reserves, conditions they say support a constructive Q4 setup.
• Analysts outline upside scenarios toward $150,000 to $180,000 contingent on sustained inflows and liquidity, whereas others warn of downside risks that could revisit $106,000 or even the $90,000–$94,000 area.
• Macro context includes the Federal Reserve’s Sept. 17 rate cut and a softer dollar, with traders also watching this week’s potential U.S. government shutdown, tariff headlines, and jobs data as possible catalysts.