Bitcoin Hits $116K: Will It Jump or Crash? 🚀💸

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Key points:

  • Bitcoin reaches $116,000 again as volatility ramps up into the US trading session. 🎢

  • Traders diverge on short-term BTC price action, with targets including $117,000 before Wednesday’s Federal Reserve interest-rates decision. 🧠🧠

  • The latest CME futures gap gains popularity as a downside target. 🤪

Bitcoin (BTC) passed $116,000 after Tuesday’s Wall Street open as crypto refused to halt its Uptober comeback. 🧙‍♂️💸

FOMC meeting injects BTC price volatility

Data from CryptoMoon Markets Pro and TradingView tracked 1.6% daily BTC price upside taking BTC/USD to $116,077 on Bitstamp. 📈

In a move that traders found increasingly surprising, Bitcoin even bucked the trend of dropping prior to major US inflation events – in this case, the Federal Reserve interest-rates decision. 🤯

The Federal Open Market Committee (FOMC) was widely expected to cut rates by 0.25% Wednesday, with markets also watching Fed Chair Jerome Powell’s language for hints over future policy trajectory during the subsequent press conference. 🧠

“So far, so good on Bitcoin. It’s nicely holding up here and doing a slight retest after this crypto trader, analyst and entrepreneur Michaël van de Poppe reacted on X. 🤔

“I would assume that we’re bottoming here today and that we start the uptrend in the remainder of the week.”

In a separate post, Van de Poppe argued that an inverse correlation between Bitcoin and gold was helping fuel the uptick. The former dropped to $3,886 per ounce on the day, its lowest since Oct. 6. 💸

“Gold coming down and consolidating is heavily bullish for risk-on assets, including Altcoins,” he wrote. 🦄

Trader Killa, meanwhile, had $117,000 in mind as part of a pre-FOMC local top before price returned lower to fill the latest weekend gap in CME Group’s Bitcoin futures market near $111,000. 🧗♂️

$BTC

Your welcome. My LTF plan playing out perfectly. Bullish narrative into FOMC.

– Killa (@KillaXBT) October 28, 2025

“CME gap as you can see is not that far away & I think breaking above this blue barrier is going to be a challenge,” he wrote. 🚧

“That said, we have a high chance of re-visiting 111.2K.”

$111,000 CME gap looms large

Many market perspectives still saw a BTC price dip at some point before the Fed event. 🧨

Trader BitBull flagged two areas of interest – $106,000 and $110,000 – before BTC/USD headed to new all-time highs. 🏁

“I’m still expecting the BTC top is not in, and there’s one big leg up left,” he told X followers. 🚀

As CryptoMoon reported, concerns over a lack of trading volume and bearish leading indicator divergences continue to raise doubts about whether the bull market can continue – or produce fresh all-time highs. 🤯

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2025-10-28 19:01