Bitcoin (BTC) continues to trade within a narrow range around $111,500, as both traders and market observers keep a close eye on whether it will move decisively out of its recent $2,025 band. As reported by
CoinDesk Research
, trading activity spiked on October 24, with sellers halting upward moves near the top of the range and buyers stepping in to support prices around $109,800. Should BTC break above $112,000, it may aim for $115,000, but dropping below $109,800 could prompt a revisit of $108,000, according to CoinDesk.
Elsewhere, broader market signals point to a fragile environment. Experts caution that
Bitcoin
could dip below $100,000 before the month ends, pressured by renewed trade disputes between the U.S. and China and signs of exhaustion in the market. Technical analysis shows bearish divergence, with each rally producing weaker highs, which has led to concerns about a possible deeper pullback, according to a
CryptoNews article
. "The recent escalation in U.S.-China trade issues may have sped up a much-needed market correction," commented CEX.io analyst Otychenko, adding that momentum indicators still suggest more downside risk.
Bitcoin’s record high of $126,199, reached on October 6, has not resulted in sustained upward movement. As detailed in a
Coinotag article
, Bitfinex analysts emphasize that the $112,000 resistance is pivotal for a potential rally in 2025; failure to surpass this level could mean continued sideways trading between $100,000 and $125,000. Other cryptocurrencies such as
Ethereum
(ETH) and
XRP
are also moving sideways, with
ETH
hovering near its 20-day EMA at $4,023 and XRP staying close to its 20-day EMA at $2.45, according to Coinotag.
Wider economic factors are adding to the uncertainty. The extension of tariffs on Chinese imports by Trump and a prolonged U.S. government shutdown have heightened risk aversion among crypto traders. On-chain metrics show an increase in short positions on Binance perpetual futures, with clusters of liquidations forming below $106,300, as per a
Cointelegraph analysis
. Nevertheless, the same analysis points out that inflows into spot ETFs and the Coinbase Premium Index remain strong, reflecting ongoing demand from both retail and institutional investors at important support levels.
Political developments are also influencing the market. A
Yahoo Finance report
notes that President Trump’s recent pardon of Binance founder Changpeng Zhao has sparked short-term optimism, with Bitcoin climbing 3.5% and altcoins like XRP and
BNB
rising by 8.5% and 4%, respectively. Still, analysts stress that larger geopolitical and economic trends—such as inflation and interest rates—will ultimately determine the market’s direction through 2026.
At present, traders are urged to watch key price levels. If Bitcoin stays above $107,000, it may consolidate before making another push toward $112,000. However, a drop below this level could open the door to a test of the significant $100,000 mark, Coinotag analysts caution. Altcoin traders are likewise monitoring the 20-day EMAs of ETH and XRP for potential breakout signals.
