In recent days, Bitcoin has been trading in a narrow range following a sharp price drop that resulted in significant position liquidations. Both upward and downward movement prospects are being considered.
Current BTC Price Situation
Currently, Bitcoin is hovering around $113,000, fluctuating between $108K and $115K. This follows a recent flash crash that wiped out over $900 million in long positions. The correction appears driven by whale sell-offs, compounded by uncertainty from macroeconomic factors, particularly regarding the U.S. Federal Reserve's recent commentary. Recent fluctuations in ETF inflows have also hindered short-term momentum for Bitcoin.
Optimistic Outlook for BTC
If Bitcoin breaks above $115K, the short-term forecast points to a potential rise towards $118K–$120K. With positive news or institutional buyers entering the market, these targets could be reached quickly. Moreover, a strong breakout could push the price to $124K.
Risks for BTC
Should Bitcoin fall below $110K, it may prompt a quick drop back to the $108K support level. Furthermore, breaching this level could lead to a move down to $105K or even $100K. Despite recent changes, risks remain significant, including the possibility of renewed selling pressure from whales and tensions in global markets.
In the coming days, Bitcoin is facing uncertainty as it oscillates within the $108K–$115K range. Significant movements are expected depending on the breakout of either of these levels.
