Bitcoin is trading near $111,722, slipping modestly as the market absorbs leveraged liquidations and awaits key U.S. inflation data.
The price remains in a consolidation band between $111,000 and $113,000, with sentiment cautious and traders watching macro cues closely.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
Bitcoin Next Target
Price: $111,722
Market Cap: $2.25–2.3 trillion
24-Hour Trading Volume: Elevated
Circulating Supply: 19.9 million BTC
Max Supply: 21 million BTC
Price made a new ATH of $124K (resistance) but quickly pulled back. It’s now recovered back above $112K support and could revisit $121K next.
We believe that the FED is likely to cut interest rates in the next 4 months by 25-50 bps, which should be bullish for BTC and altcoins.
Key Indicators & Market Signals
The week saw $1.5 billion in liquidations across crypto, placing pressure on BTC longs.
Resistance sits near $113,000; failure to break it keeps BTC range-bound.
Support around $111,000 is a critical guardrail—slipping below could pull BTC toward $109,000–$107,000 levels.
Macro risk is high: traders are focused on upcoming inflation (PCE) data, which may sway Fed policy expectations.
Latest News Highlights
A major deleveraging event earlier this week triggered sharp sell-offs, dragging Bitcoin 0.8% lower.
Though the move is steep, analysts argue the correction stems more from leveraged positions unwinding than deteriorating fundamentals.
Many see these “leverage washes” as healthy resets that can build a more stable base for the next leg higher.
Conclusion
BTC is hovering near $111,722, caught in a consolidation zone between $111,000 support and $113,000 resistance. Recent liquidations have roiled the market, but fundamentals remain largely intact. Traders will look to U.S. inflation data and macro signals for direction.
A break above resistance could rekindle upside toward $115,000+, while a break below support may target $109,000 or lower.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
Harsh Panghal
Be the first to comment