Bitcoin (BTC) tumbled below the $110,000 level in a sharp move that rattled markets and triggered a wave of short-term panic selling. The 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 tightening. With uncertainty still lingering, BTC briefly slipped into a risk-off spiral, testing investor conviction and flushing out leveraged positions in the process.
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 phases.
For 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 month. As 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 November.
PoC 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 profile.
This 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 liquidity.
In practical terms, the PoC functions as a fair value zone for market participants. When 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 range. Until then, however, the structure remains indecisive, with price hovering in a neutral zone where neither bulls nor bears hold a clear advantage. This aligns with broader market behavior: reduced leverage, mixed sentiment, and trader caution following aggressive liquidations earlier in October.
The market is digesting macro shifts, recalibrating position sizes, and waiting for a clearer signal. If Bitcoin can stabilize above recent support and begin rotating back toward the PoC, reclaiming $117K could mark the moment the next leg up begins.
Bitcoin (BTC) is currently trading near $110,180 on the 4-hour timeframe, attempting to stabilize after yesterday’s sharp drop. The 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 levels.
The 50-period EMA sits just above the current price, and the 100- and 200-period moving averages remain overhead, stacked bearishly. This alignment indicates that momentum has not fully shifted back to the bulls yet.
To regain control, BTC must break above $112,000–$113,000, where multiple moving averages converge and prior support now acts as resistance. Clearing 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 strength.
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 flush. For now, BTC remains in a neutral recovery posture, trying to build a base while navigating overhead pressure from macro uncertainty and recent leverage unwinds.
Featured image from ChatGPT, chart from TradingView.com