Bitcoin traded around $114,501 at 23:35 UTC on October 26, extending a clean break above $112,000 as short sellers FOMC meeting.
Breakout recap
Coindesk Research’s technical analysis model observed a move from $111,453 to $113,572, led by a 09:00 UTC surge in which volume jumped nearly 318% above the session average, bringing the price through the $112,000 cap.
Following through added a series of higher midday highs before activity cooled, with the price narrowing to a $113,550-$113,720 box. Attempts near $113,700-$113,733 faded, defining immediate resistance, while a shelf was formed near $113,300.
Check derivatives
In the last 24 hours, Coinglass tall $393.74 million in liquidity in the areas, including $319.18 million from short positions and $74.45 million from Longs. The largest single wipeout was a $19.04 million BTC-USD order on hyperliquid.
In plain English: Traders who bet against the move are forced to exit more than Longs, a dynamic that can reinforce the upside once a major level is broken.
US -China consultations
Between 12:29 and 12:36 UTC, the Chinese Embassy in the US posted three updates on X describing “Candidate, Deep and Full” in Kuala Lumpur between Vice Premier He Lifeng and Treasury Secretary Scott Bessent and US trade representative Jamieson Greer.
The Posts Listed Labor Topics: Section 301 Measures in the Maritime, Logistics and Shipbuilding Sectors; a possible extension of the suspension of reward tariffs; Fentanyl-Related Tariff and Law Enforcement Cooperation; agricultural trade; and export controls. The embassy said The sides have “reached basic consensus” and will work out the details through domestic processes.
A follow-on Post He quoted Lifeng as a firm us-China trade serves both countries and called for dialogue on equal footing. It referred to the implementation of “important consensuses” reached by the two heads of state earlier this year, management of differences, and expansion of mutually beneficial cooperation to establish trade relations at a “higher level.”
A third Post Both sides said they agreed to use the consultation mechanism, maintain close communication on their respective concerns, and promote healthy, stable and sustainable development of economic and trade relations. The tone is process-oriented and forward-looking, signaling ongoing dialogue rather than specific policy outcomes.
Meeting Trump -XI
On Friday, CNBC reported The White House expects US President Donald Trump to meet Chinese President Xi Jinping on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit, with the aim of dialing down tensions and seeking a trade deal. The report quoted Trump as saying, “We’re going to come out fine,” about the planned meeting.
Fed this week
The Fed’s two-day FOMC meeting ended on October 29, following Jerome Powell’s news conference. Markets will be watching for guidance on the path of rates and balance sheet policy; For risk assets like crypto, the focus is on whether the Fed cuts or holds, how it indicates the trajectory from here and the tone of Powell’s strike.
What to Watch Next
If BTC closes above around $113,700-$114,000 and holds that area (UTC), traders will look at the $115,000-$116,000 band next. If BTC breaks below around $113,300 and stays there, a $111,000 retest becomes more likely; Deeper weakness could revisit the $108,000 region that anchored the previous base.
Latest 24 hour and one month chart read
As of 23:23–23:35 UTC on October 26, BTC was $114,501 (about +2.6% during the period). On the 24-hour price chart, buyers headed for dips towards $113,000-$113,300 after the $112,000 break, while intraday is driving supply near $114,700.
On the month-to-month chart (about $114,575), Bitcoin recovered from the mid-October close to $105,000 but remains below the October highs around $125,500; A daily close north of $116,000 will strengthen the case for another test of the $120,000-$125,000 band.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
