Overview
- Markets widely price a 25-basis-point Federal Reserve cut this week to a 3.75%–4.00% range, with Chair Jerome Powell having indicated conditions may allow ending quantitative tightening.
- Bitcoin traded in the $114,000–$116,000 band after a brief push to $116,200, with analysts flagging $116,000–$117,500 as the level that would open room toward $120,000–$126,000.
- Derivatives positioning remains elevated, with aggregated open interest near $37.63 billion and roughly $307 million in 24-hour liquidations underscoring near-term volatility.
- Institutional demand has reemerged as CoinShares logged $921 million in weekly inflows and spot Bitcoin ETFs took in about $149 million on Oct. 27.
- On-chain metrics show the Stablecoin Supply Ratio near cycle lows, indicating substantial sidelined liquidity, while traders also watch the Trump–Xi APEC meeting as a potential risk-on catalyst.