Bitcoin Point Of Control Sits At $117K – Key Battle Zone For Bulls

Bitcoin (BTC) tumbled below the $110,000 level in a sharp move that rattled markets and triggered a wave of short-term panic ￰0￱ sudden decline followed an initial post-Fed volatility spike, as traders reacted to the US Federal Reserve’s 25bps rate cut and announcement of an impending end to quantitative ￰1￱ uncertainty still lingering, BTC briefly slipped into a risk-off spiral, testing investor conviction and flushing out leveraged positions in the ￰2￱ Reading: $780M Worth of Ethereum Pulled From Exchanges – Biggest Withdrawal Spike in Weeks Despite the market turbulence, several analysts argue this move may represent a classic shakeout, rather than the beginning of a larger breakdown.

Historically, Bitcoin has often seen sharp pullbacks immediately before renewed upside momentum, especially during early liquidity-expansion ￰3￱ now, all eyes are on whether Bitcoin can stabilize and reclaim the $110K zone, a level that has repeatedly acted as a pivot throughout the past ￰4￱ markets digest the Fed’s decision, the focus turns to whether Bitcoin can wake up from this sudden sell-off and reclaim strength heading into ￰5￱ Becomes Critical Battleground as Market Signals Indecision According to top analyst On-chain Mind, Bitcoin’s current price structure is being defined by a major volume cluster centered around $117,000, which now serves as the Point of Control (PoC) in the local market ￰6￱ level represents the price zone with the highest traded volume in the recent range — effectively the point where buyers and sellers have shown the strongest interest and where the market has spent considerable time balancing ￰7￱ practical terms, the PoC functions as a fair value zone for market ￰8￱ the price trades below it, bulls need to reclaim the level to regain trend strength; when the price trades above it, the zone tends to act as support.

Today, BTC remains beneath the $117K PoC, signaling that the market has yet to re-establish bullish dominance after the recent shakeout. On-chain Mind notes that reclaiming $117K would likely trigger renewed momentum, opening the door for a retest of the $120K–$123K ￰9￱ then, however, the structure remains indecisive, with price hovering in a neutral zone where neither bulls nor bears hold a clear ￰10￱ aligns with broader market behavior: reduced leverage, mixed sentiment, and trader caution following aggressive liquidations earlier in ￰11￱ market is digesting macro shifts, recalibrating position sizes, and waiting for a clearer ￰12￱ Bitcoin can stabilize above recent support and begin rotating back toward the PoC, reclaiming $117K could mark the moment the next leg up ￰13￱ Reading: Bitcoin Records Over $300B Spot Volume In October – Investors Shift Away From Leverage Bitcoin Attempts Rebound Above $110K Bitcoin (BTC) is currently trading near $110,180 on the 4-hour timeframe, attempting to stabilize after yesterday’s sharp ￰14￱ price managed to reclaim the $110K level, suggesting buyers stepped in at intraday lows around $108,500, an important local demand zone that has repeatedly supported the price since mid-October.

However, the recovery remains fragile, with BTC now approaching a cluster of short-term resistance ￰15￱ 50-period EMA sits just above the current price, and the 100- and 200-period moving averages remain overhead, stacked ￰16￱ alignment indicates that momentum has not fully shifted back to the bulls ￰17￱ regain control, BTC must break above $112,000–$113,000, where multiple moving averages converge and prior support now acts as ￰18￱ this zone would open the path toward the critical $117,500 Point of Control — the key level bulls need to reclaim to re-establish medium-term ￰19￱ Reading: Ethereum ICO Whale Awakens After 8 Years – 1,500 ETH Sent to Kraken After 8 Years If Bitcoin fails to hold $110K, support lies at $108,500, followed by the deeper liquidity zone around $106,000, where buyers strongly defended price during the October 10 ￰20￱ now, BTC remains in a neutral recovery posture, trying to build a base while navigating overhead pressure from macro uncertainty and recent leverage ￰21￱ image from ChatGPT, chart from ￰22￱