Bitcoin is currently trading in an 18-day range, despite a drop below $116,000. Following the Federal Reserve’s FOMC minutes and comments from Fed Chair Jerome Powell regarding interest rates, Bitcoin experienced a sharp sell-off but rebounded the next day. The price has fluctuated between $115,000 and $121,000, and analysts anticipate an imminent range expansion, with signs of liquidity hunting evident. The liquidation heat map shows that short liquidations are likely above $120,000, while long positions could be at risk below $115,000. Additional factors such as the resumption of inflows to Bitcoin ETFs and regulatory clarity from U.S. administrations are seen as supportive for future price increases. Despite present downward pressure, indicators suggest potential bullish movements if prices stabilize above $116,000 and reach $120,000. Investors are optimistic given a high 100:1 buyer to seller ratio monthly, and a potential surge in spot and futures markets could drive a significant rally.

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