Bitcoin Holds Above $112K Amid Pre-FOMC Market Correction

Bitcoin's price faced rejection at $115,000 and is fluctuating around $113,000 amid selling pressure before the FOMC meeting.

Analysts suggest this pattern often precedes a Fed rate cut announcement, with bullish on-chain metrics supporting potential upward movement.
Michael van de Poppe indicates the pullback is a standard correction rather than market weakness, with Bitcoin maintaining strength above $112,000.
Javon Marks notes Bitcoin forming a rising wedge pattern, historically leading to significant breakouts in 2013, 2017, and 2021.
Robert Kiyosaki predicts Bitcoin could reach $200K this year despite recent pressures, citing a potential collapse of the US Dollar.
Bitcoin’s derivatives market has shifted to positive funding, suggesting renewed bullish momentum after clearing excessive leverage.

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