Bitcoin price continued its near-green week today trading above $115,000 today and briefly reaching $116,077. Since then, Bitcoin’s price has fallen 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 US and China. Business relations.
Data from Bitcoin Magazine Pro showed a daily gain of 1.6% for BTC before unloading in the late afternoon.
Despite historical trends of Bitcoin declining before major economic events in the US, the cryptocurrency remained steady ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday, where the interest rate was cut by 25 basis points. widely expected.
Traders remain divided on near-term price targets. Some believe the market may bottom and an uptrend could follow for the rest of the week, while others believe the $117,000 level is a potential pre-Fed local high before BTC revisits the CME futures gap near $111,000.
The broader macro backdrop also supported riskier assets. gold He falls To below $4,000 an ounce, the lowest level since October 6, which helped fuel gains in Bitcoin and altcoins.
Bitcoin price is entering a narrow range
The price of Bitcoin entered one of the tightest trading ranges in history, ranging between $106,000 and $123,000 for more than four months. This extended lull has pushed volatility to record lows on six-month scales – levels that have historically preceded major directional moves. The weekly Bollinger band width, a key volatility indicator, has reached its lowest reading on record, indicating that a significant expansion in volatility may be imminent.
In past cycles, similar periods of stress have seen prices rise by more than 65% within 100 days.
Applying these historical patterns implies a potential target of $170,000-$180,000 by 2026 if Bitcoin follows a similar path. However, these low-volatility phases can last for several months before breaking out, meaning Bitcoin may continue to trade sideways until early 2026.
Buy crypto for businesses
Cryptocurrency activity of companies and institutions is also making headlines. Japanese hotelier turned to Bitcoin, Metaplanet Inc. Announce Buying back shares worth $500 million, while Cathie Wood and Ark Invest increased their holdings in Block Inc. $30.9 million across three ETFs.
Wood, known for her $1.5 million Bitcoin predictions, is one of the most bullish investors in the cryptocurrency space. Through ARK Invest, I have consistently invested millions in major cryptocurrency-related stocks.
Her company has held positions at Circle Internet Group, Coinbase, Robinhood, and Bitmine Immersion Technologies.
Recently, ARK expanded its exposure to cryptocurrencies by purchasing Block Inc. shares. With a value of about $31 million. The ARK Innovation ETF bought 210,916 shares, the ARK Next Generation Internet ETF added 59,827 shares, and the ARK Fintech Innovation ETF acquired 114,842 shares.
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