"Bitcoin price continued its semi-green week for a bit today trading above $115,000 today and briefly reaching $116,077. Since then, bitcoin's price has dumped to the mid $112,000s, according to Bitcoin Magazine Pro data. This bitcoin price movement comes as traders weigh the Federal Reserve's upcoming interest-rate decision and renewed optimism in the U.S.-China trade relations. Data from Bitcoin Magazine Pro showed a 1.6% daily gain for BTC before the dump in late afternoon."
"Bitcoin's price has entered one of its tightest trading ranges in history, moving between $106,000 and $123,000 for over four months. This extended calm has driven volatility to record lows on six-month metrics - levels that have historically preceded major directional moves. The weekly Bollinger Band Width, a key volatility indicator, has reached its lowest reading ever, suggesting that a large expansion in volatility could be imminent."
Bitcoin traded above $115,000 and briefly reached $116,077 before dropping to the mid-$112,000s, with a 1.6% daily gain recorded prior to the late-afternoon selloff. Market participants are weighing an expected 25-basis-point Fed rate cut at the upcoming FOMC meeting alongside improving U.S.-China trade sentiment. Some traders view current action as a potential market bottom and expect an uptrend, while others see $117,000 as a possible pre-Fed local top before a revisit to the CME futures gap near $111,000. Bitcoin has traded in a tight $106,000–$123,000 range for months, pushing volatility metrics to record lows.
Read at Bitcoin Magazine
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