Bitcoin range trades above key support
Bitcoin trades in a tight sideways range above key support amid institutional adoption and rate cut expectations.
Bitcoin range trades but maintains a bullish bias
Bitcoin's recent price surge is being fuelled by a combination of institutional adoption, macroeconomic conditions, and its inherent scarcity.
Major asset managers and funds are increasingly gaining exposure through exchange-traded funds (ETFs) and regulated products, while Bitcoin’s fixed supply and the latest halving have tightened the flow of new coins, amplifying its scarcity value.
At the same time, expectations of central bank rate cuts and concerns over inflation and fiscal deficits are boosting Bitcoin’s appeal as a hedge against currency debasement.
Beyond macro drivers, retail adoption is rising as platforms make crypto more accessible and merchants expand Bitcoin payment options.
Technological improvements like the Lightning Network are also strengthening Bitcoin’s utility. Combined with strong momentum and investor psychology - where rising prices attract more buyers - these factors have created a self-reinforcing cycle that continues to push Bitcoin higher.
Bitcoin bullish scenario:
Bitcoin continues to range trade but a rise above its 15 September high at $116,814.50 would likely push the 22 August high at $117,440.43 to the fore.
Further up lies the 17 August high at $118,624.45 which may also be reached in this scenario.
Bitcoin bearish scenario:
A fall through the 15 September $114,398.76 low would probably lead to a retest of the $113,510.23-to-$111,982.45 support zone which would be expected to hold, though.
If not, the $110,000.00 region and also the 4 September low at $109,385.95 may be revisited. Further minor support sits at the 26 August low at $108,757.90.
Were it to give way, the late August-to-early September lows at $107,412.82-to-$107,286.25 may be retested as well.
Bitcoin daily candlestick trading chart
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