Bitcoin Hovers Near $115K as Traders Eye Fed Decision on Wednesday

Bitcoin entered the new trading week under pressure, with prices circling weekend lows of around $115,000 as investors looked ahead to a pivotal U.S. Federal Reserve meeting. The world’s largest cryptocurrency avoided sharp volatility but remained on watch for signals that could shape its near-term direction. Cautious Market Moves Data from TradingView showed Bitcoin dropping toward $115,000 after peaking at $116,800 during Friday’s Wall Street session — its highest level since late August. “Pretty clear price is being walked down here yet again going into a new week,” trader Skew wrote on X, adding that there was “some pretty decent bid depth & liquidity just below $115K.” “Time to pay attention,” he concluded. Other analysts emphasized that Bitcoin’s short-term goal was not a breakout, but rather regaining stability at key support levels. Traders Focus on $114K Support Popular analyst Rekt Capital explained that the immediate task was for Bitcoin to reclaim $114,000 as a firm base. “The goal isn’t for Bitcoin to break $117k in the short-term,” he wrote. “The goal is for Bitcoin to reclaim $114k into support first. Because that’s what would enable the premium-buying necessary to get price above $117k later on.” Despite short-term uncertainty, Rekt Capital maintained that Bitcoin’s bull market remained intact and that fresh all-time highs were likely still ahead. He added that a weekly close above $114,000 would be considered “bullish.” Fed Rate Cut Expectations Dominate Beyond Bitcoin, the spotlight was firmly on the Federal Reserve’s upcoming policy decision. Markets were near-unanimous in predicting a 0.25% rate cut, a move that could further support risk assets, including cryptocurrencies. Analysts argued that improving U.S. economic data, looser financial conditions, and broad participation from cyclical industries all point to continued economic expansion. In a recent update, trading firm Mosaic Asset Company struck an optimistic tone. “The combination of improving leading indicators, ongoing loose financial conditions, and strong market breadth that includes participation by cyclical industries favors an ongoing economic expansion in my opinion,” its author wrote. “That supports the earnings outlook which is ultimately good for stock prices at the same time the Fed is set to resume rate cuts. That could make for an excellent trading environment into next year.”