Bitcoin consolidates above $114K briefly amid macro tailwinds
Key takeaways
- Bitcoin (BTC) climbed back above $114,000, with highs near $116,200 before settling around the $114K mark. As of 10:00 a.m., 28 October, Bitcoin is trading at $113,836, down 1.10% over the past 24 hours.
- Technical trigger: BTC crossed above its 50-day moving average, signaling renewed short-term bullish momentum.
- Global crypto market cap is back near $3.84T, down 1.30% in the last 24 hours as several top cryptos like ETH, SOL, BNB, and DOGE registered losses.
- Macro and flows: Optimism around a potential US rate cut and easing U.S.-China trade tensions boosted sentiment and helped drive the rebound.
Macro factors at play
- Policy and liquidity: Softer inflation prints and speculation of lower interest rates have revived appetite for risk assets, including crypto.
- Geopolitics: Geopolitical and trade developments continue to create short risk-off bursts; when headlines soften, capital tends to rotate back into crypto.
- Technical triggers: With BTC’s break above key moving averages, some funds may be re-entering or reducing hedges, adding to momentum.
- Rates and inflation: Sticky inflation and cautious central-bank commentary are still the background constraint; traders are pricing in slower cuts, so upside depends on improving liquidity signals.
Support and resistance
- Support: $107K–$109K remains key. Holding above this band will be essential to avoid downside.
- Resistance: $113K–$116K is the near-term ceiling. A sustained move above this zone could open the way toward $120K+.
What to watch
1. ETF and fund flow momentum
Weekly global crypto ETPs attracted about US $921 million in inflows last week, with Bitcoin alone getting $931 million. A shift from net outflows/flat flows to significant net inflows could be a major bullish trigger. Conversely, sustained flat/negative flows may favor consolidation or correction.
2. Macro and policy catalysts
Ongoing rate-cut optimism and cooling inflation data are improving liquidity for risk assets, including crypto. JPMorgan Chase is reportedly preparing to accept Bitcoin and Ethereum as collateral in institutional lending by the end of 2025, indicating deepening integration of crypto into TradFi. Investors should watch upcoming FOMC, CPI/PCE prints, and major central bank decisions (ECB, BoJ) as any surprise could shift real yields and dollar strength, impacting crypto risk sentiment significantly.
3. On-chain and Infrastructure Signals
Exchange inflow/outflow data, long-term holder accumulation, futures open interest, and funding rates should be monitored; rising accumulation plus falling funding rates result in a bullish sign; the opposite indicates distribution or unwind.
Fireblocks reported that its platform is now being used by over 2,400 institutions to launch on-chain products, including stablecoins and custody solutions.
4. Altcoin rotation and protocol upgrades
As BTC consolidates in its range, watch for signs of altcoin strength: token listings, staking launches, network upgrades, and large airdrops. For example, a new spot-Solana staking ETF (BSOL by Bitwise) launches on the NYSE on Oct 28, may pull flows into SOL and the related ecosystem.
5. Regulatory and geopolitical events
Any major enforcement action, crypto regulation change, or stablecoin framework shift could rapidly alter institutional risk appetite and custodial flows. Geopolitical shifts (trade deals, sanctions, global liquidity stress) amplify the risk-off/risk-on swings in crypto — hence keep major global headlines on your radar.
Market outlook
The market is in consolidation with a short-term bullish tilt.
If BTC holds above $109K and builds momentum past $116K, then a push toward $120K becomes plausible. On the flip side, a failure to defend support could drag prices back toward the low-$100Ks. For now, investors should expect heightened volatility and favor setups tied to flows, technical breaks, and macro cues rather than broad speculation.
Top gainers
Date: 28 Oct. 2025, 10:00 a.m.
Top losers
Date: 28 Oct. 2025, 10:00 a.m.
