Bitcoin's price continues to experience range-bound trading, fluctuating between $115,000 and $121,000. This consolidation has persisted for the last 18 days, even briefly dipping below $116,000. Despite the choppy price action, analysts suggest that a breakout is on the horizon.
The current market behavior is characterized by indecision, as reflected in technical indicators like the "indecisive 15m candle". This suggests that traders are actively hunting for liquidity, leading to rapid price swings in both directions. Analyzing the bid-ask ratio at 10% orderbook depth shows increasing chances of the price reaching a liquidation level at $115,883.
Looking at liquidation heatmaps, short liquidations are accelerating above $120,000, while long positions are at risk below $115,000. Order book data reveals significant sell walls around $121,100 and substantial bids appearing near $111,000. A break below the $115,000 could see Bitcoin testing the $111,000-$115,000 range to absorb long liquidity. A strong buying presence at $111,000 might re-establish the range above $116,000. For a bullish scenario to unfold, both spot and perpetual futures CVD would need to turn positive, with buyers pushing for a close above the $120,000 resistance.
Recently, Bitcoin experienced a sell-off following the Federal Reserve's release of the FOMC minutes and Chair Jerome Powell's press conference, where the decision to hold interest rates steady was explained. However, prices rebounded as the market refocused on fundamentals and the projected long-term impact of President Trump's economic policies.
The White House's recent crypto report and SEC Chair Paul S. Atkins' speech have provided a clearer regulatory framework, boosting institutional confidence in the crypto sector. This policy clarity could act as a catalyst for a potential breakout. Bitcoin ETFs are now trading on US stock exchanges, offering mainstream investors exposure to the digital asset. Major financial institutions, such as BlackRock, are recommending portfolio allocations to Bitcoin, while countries like El Salvador recognize it as legal tender.
