Bitcoin Daily Chart — At a Crossroads Again

Bitcoin is currently trading around $109,700, showing resilience after last week’s dip below $106,000. Looking at the daily chart, we can see how BTC has been consolidating in a wide range between $104,000 and $124,000 since early August — a pattern of higher volatility but lower conviction.

The price action reflects a market that’s searching for direction. After months of strong momentum earlier this year, Bitcoin seems to have lost the clear uptrend it enjoyed between March and July. We’re now sitting right in the middle of a large sideways range — and the next few weeks could decide whether this becomes a continuation or a reversal.

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🧭 Key Technical Levels

• Resistance: $114,000–$116,000 — the ceiling BTC has failed to break multiple times since late summer.
• Support: $105,000–$106,000 — a critical demand zone; a breakdown here could open the way to $98,000–$100,000.
• Mid-range pivot: $110,000 — acting as the short-term equilibrium point.

For bulls to regain control, Bitcoin must close above $116,000 on strong volume. A daily close below $104,000, however, could trigger a deeper retracement toward the psychological $100K mark.

🌍 Macro Factors in Play

Several global forces are influencing the crypto market right now:

1. U.S. Federal Reserve policy – After the recent 25bps rate cut, investors are watching for signs of more easing. Further cuts could weaken the dollar and reignite risk-on sentiment, benefiting BTC.
2. Government shutdown & fiscal tension – Ongoing disruptions in U.S. economic data flow create uncertainty, often prompting safe-haven bids toward gold, silver, and occasionally Bitcoin.
3. Global liquidity trends – Central banks in Japan and China are signaling more accommodative stances, potentially expanding liquidity — a bullish backdrop for speculative assets.
4. Geopolitical risks – From energy tensions to shifting alliances, macro shocks can push investors toward or away from risk assets quickly.

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🔬 Micro Factors

• Derivatives liquidations: We’ve seen over $600 million wiped in leveraged trades recently, which flushed out weak hands but also cleared the path for a more stable base.
• ETF inflows/outflows: Institutional activity has cooled slightly; renewed inflows could serve as a strong catalyst.
• Bitcoin dominance: Hovering around 59–60%, suggesting capital is rotating back into BTC as traders reduce exposure to altcoins.

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🚀 Outlook — Consolidation Before the Next Big Move

In the short term, Bitcoin looks set for continued sideways consolidation within the $105K–$115K zone. As markets digest macro uncertainty, traders should watch for volume spikes and daily closes near the extremes of this range.

The macro environment favors eventual upside if liquidity expands and rate cuts continue — but don’t expect a straight line. Whales and algorithms are taking advantage of every swing in sentiment.

In other words: the storm may have calmed, but the sky isn’t clear just yet. 🌩️

Stay patient, stay sharp, and keep your eyes on the $110K pivot.