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Figure Heloc Bitcoin Holds Above $110K as Traders Await Breakout Market Stays Cautious Despite Fed Rate Cut and Trade Optimism
Timothy Young 
Bitcoin is holding its ground above $110,000 this week, consolidating in a narrow range even as global economic conditions show fresh signs of improvement. The Federal Reserve’s latest rate cut and renewed U.S.–China trade cooperation have created a supportive backdrop for risk assets yet the crypto market hasn’t fully regained its footing.
At the time of writing, Bitcoin is trading around $110,300, marking a 0.5% daily gain and up nearly 1% over the past week. The price has been moving sideways between its 200-day simple moving average (SMA) near $109,763 and the 100-day SMA at $114,194. The lower end around $109K continues to draw strong buying interest, while profit-taking emerges near $114K a sign of a balanced market where bulls and bears are still testing each other’s resolve.
Traders say Bitcoin’s next big move hinges on a decisive breakout from this range. A close above $114K could open the door toward $120K and possibly $122K, signaling renewed bullish momentum. Conversely, if BTC slips under $108K, the next key support lies near $104K to $102K levels that have historically triggered fresh accumulation phases. “This is a classic rangebound setup,” one analyst explained. “Until one side gives, the chop continues — but tension is definitely building.”
Zooming into the 4-hour chart, the picture becomes more defined. BTC has repeatedly bounced off the $108K–$109K zone, forming a series of higher lows that point to underlying strength. Still, sellers have stood firm around $115K, keeping the asset pinned below a short-term breakout line. If Bitcoin can push above $116K with convincing volume, traders expect a stronger push higher as momentum traders re-enter the market.
For now, volatility is compressing, suggesting a larger move may be on the horizon. “When Bitcoin trades like this slow, tight, and indecisive it’s often the calm before the storm,” noted one veteran trader. “The next breakout, in either direction, could be big.”
On-chain data paints a picture of cautious optimism. While Bitcoin’s price has stabilized above $110K, network activity has slowed in recent days. Data from CryptoQuant shows a gradual decline in active addresses, hinting that traders may be pausing after recent gains or waiting for a clearer signal. Historically, these dips in address activity at major support levels often precede renewed accumulation and eventual price surges as seen during the late 2023 and mid-2024 cycles.
Importantly, the current level of on-chain activity remains far higher than during the 2024 accumulation phase, suggesting the market is cooling rather than collapsing. Many long-term holders appear content to sit tight, confident in Bitcoin’s structural strength as macro conditions turn more favorable.
The broader backdrop is helping keep sentiment afloat. The Fed’s rate cut has weakened the dollar slightly, making riskier assets more attractive, while signs of easing tensions between Washington and Beijing have lifted global market confidence. Still, traders aren’t rushing in just yet wary that the recent calm might mask brewing volatility.
As Bitcoin holds steady between $108K and $114K, all eyes are on whether the next move will break resistance or test support. The range has narrowed, the volume has thinned, and patience is wearing thin all the ingredients for a sharp breakout. Whether that move is up or down could define how the rest of Q4 unfolds for crypto’s biggest asset.
About the Author
Ryan Moore 
David Rich 
John Wood 