Bitcoin Holds $111.3K Amid US Rates & Tariff Caution.
Bitcoin price holds steady around $111.3K as caution over US rates and tariffs weighs on sentiment.
FUNDAMENTAL OVERVIEW:
Bitcoin steadied on Wednesday after clawing back part of its recent losses, though sentiment in the crypto market remained cautious amid uncertainty over U.S. trade tariffs and the outlook for lower interest rates. Traditional safe havens such as gold and the U.S. dollar outperformed Bitcoin this week, with mounting concerns about rising debt levels in developed economies further fueling risk aversion.
Caution also lingered ahead of key U.S. labor data, which is expected to influence the Federal Reserve’s rate outlook. Meanwhile, digital tokens from U.S. President Donald Trump’s crypto venture, World Liberty Financial, slumped in their public market debut earlier this week.
The world’s largest cryptocurrency had briefly dropped to a two-month low near $107,000 earlier in the week, sparking wider declines across crypto markets after sliding nearly 12% from its mid-August record highs. Bitcoin’s recent weakness also mirrored sharp selloffs on Wall Street, where risk-sensitive assets came under pressure from surging bond yields across major economies.
With nonfarm payrolls data due Friday, markets remained on edge. Still, broader crypto prices moved higher in tandem with Bitcoin, trimming a portion of the recent downturn.
BTC/USD TECHNICAL ANALYSIS CHART:
Technical Overview:
BTC/USD is trading within a down channel.
BTC/USD is moving below 10&50 Moving Averages (SMA).
The Relative Strength Index (RSI) is in Neutral Zone, while the Stochastic oscillator suggests Positive trend.
Immediate Resistance level: 113543
Immediate support level: 105717
HOW TO TRADE BTC/USD
BTC/USD initially moved higher but faced rejection, leading to a reversal. The pair briefly rebounded after testing support, though the recovery was short-lived as Bitcoin broke through a key support level with strong downside momentum. Currently, the price is attempting a pullback towards a key resistance zone. If it encounters rejection or shows weakness at this level, further declines toward major support remain likely.
TRADE SUGGESTION- LIMIT SELL – 112489, TAKE PROFIT AT- 108420, SL AT- 114826.