Bitcoin Struggles to Stabilize Above $110K Amid Market Uncertainty

Bitcoin (BTC) fell below $110,000 amid market panic following a US Federal Reserve rate cut and announcement to end quantitative tightening. This decline tested investor conviction, causing leveraged positions to be flushed out.

Analysts suggest the drop could be a shakeout, with potential for renewed momentum as seen historically during early liquidity-expansion phases.
The $110K level remains crucial; its recovery is necessary for Bitcoin's strength heading into November.

Point of Control (PoC) Critical at $117K

On-chain Mind identifies a major volume cluster at $117,000 as the current PoC, indicating strong buyer-seller interest.
The PoC serves as a fair value zone; trading below it suggests a lack of bullish dominance.
Reclaiming $117K could lead to testing the $120K–$123K range, but current market sentiment remains mixed with reduced leverage.

Bitcoin Rebound Efforts

BTC trades near $110,180, attempting stabilization after a sharp decline.
Recovery is fragile with resistance levels approaching, and moving averages indicate bearish momentum.
A breakout above $112,000–$113,000 is needed to reclaim medium-term strength, aiming for the $117,500 PoC.
Failure to hold $110K could see support at $108,500 and $106,000.

Overall, Bitcoin remains in a neutral stance, navigating macro uncertainties and recent leverage adjustments.