Bitcoin Near $112K: Traders Bet on CME Gap and Fed Drama – Who Will Win?

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Bitcoin hangs around $112K, as traders nervously eye a potential CME gap fill near $111K, all while waiting for the Fed’s next drama-filled rate decision. 🤷‍♂️

 

Bitcoin blasted past $116,000 during U.S. market hours on Tuesday-because why not? Volatility, like an old friend, is back in full force, thanks to the Federal Reserve’s upcoming rate decision. 💸

Traders, however, remain divided. Will the price soar even higher, or will it dip back down to close that pesky CME futures gap at $111,000? 🧐

Bitcoin Surges as All Eyes Turn to Fed’s Next Move

TradingView’s latest show-and-tell has Bitcoin at a cozy $116,077 on Bitstamp, with a neat 1.6% daily gain to boot. All this, despite the fact that historically, major U.S. economic events tend to bring prices down. 😬

The market’s collective gaze is fixed on the Federal Open Market Committee (FOMC) meeting, where a 0.25% rate cut is expected. Will Fed Chair Jerome Powell drop some juicy hints about future rate policies? 🏦 If so, Bitcoin’s fate could take a sharp turn one way or the other later in the week.

As I said earlier,

Gold’s fall into the abyss and its steady consolidation? Totally bullish for risk-on assets, including the crypto world.

We’ve seen gold and crypto do a sort of negative tango lately.

Best time for altcoins to thrive? When gold takes a nap and consolidates…

– Michaël van de Poppe (@CryptoMichNL)

Crypto guru Michaël van de Poppe tweeted his wisdom on X (formerly Twitter), claiming that Bitcoin is holding firm and may just be warming up for a fresh uptrend. He also pointed out that gold’s recent tumble below $3,900 is pushing investors toward riskier assets-hello, Bitcoin! 🪙

The $117K Dream and That Dreaded CME Gap: A Tale of Mixed Feelings

Some traders are feeling optimistic, forecasting Bitcoin’s rise to $117,000 before it eventually pulls back. Trader Killa shared a chart showing resistance just above the current price, warning that we could see a dip to fill the CME futures gap around $111,200. 🔥

Here’s the master plan:

Trap late longs on Monday, trap late shorts on Tuesday, then squeeze one last time above the highs to take out stops. Classic move.

– Killa (@KillaXBT)

“That CME gap? Not far off,” Killa added ominously. “We’re probably revisiting $111.2K soon. 🍿”

Another trader, BitBull, chimed in, noting two possible support zones at $106,000 and $110,000. He predicts one more glorious surge to new highs, just after a likely short-term correction. A nice rollercoaster ride, no doubt. 🎢

Can the Bullish Party Keep Going? Market Divided

Despite Bitcoin’s recent resilience, not everyone’s convinced the rally can keep going. Concerns about falling trading volume and bearish technical signals have left some analysts scratching their heads. 🤔

But let’s not forget the CME gap, which remains a central figure in the drama. Those gaps left by futures markets over the weekend? Oh, they love to fill in later trading. 🕵️‍♂️

As of now, Bitcoin is holding steady at $112K, comfortably above key support but still under resistance. All eyes are on Wednesday’s FOMC announcement-will it send Bitcoin on a new adventure, or will the market just shrug and wait for the next big thing? 🧐

Traders are all on edge, watching every price move as volatility cranks up and short-term targets shift faster than you can say ‘Fed decision.’ Hold on tight, folks, it’s going to be a wild week. 🚀

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2025-10-29 00:52