Key points:
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Bitcoin reached $116,000 again as volatility soared in the US trading session.
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Traders are deviating from BTC’s short-term price action, with targets including $117,000 ahead of Wednesday’s reserve interest rate decision.
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The latest CME futures gap is gaining popularity as a downside target.
Bitcoin (BTC) passed $116,000 after Tuesday’s Wall Street open as the crypto refused to stop pulling back upto.
The FOMC meeting injected BTC price volatility
Data from Cointelegraph Markets Pro and TradingView Tracked a 1.6% daily BTC price reversal taking BTC/USD to $116,077 on bitstamp.
In a move found by traders even more surprisingBitcoin even tends to fall ahead of major US inflation events—in this case, the Federal Reserve’s interest rate decision.
The Federal Open Market Committee (FOMC) is broad expected to cut rates by 0.25% Wednesday, with markets also watching Fed Chair Jerome Powell for clues on the future trajectory of policy during the next meeting.
“So far, very good in Bitcoin. Very good holding it and doing a slight retest after this crypto trader, analyst and trader Michaël van de Poppe reaction in X.
“I guess we’re going down here now and we’re starting the rampage for the rest of the week.”
In a separate postVan de Poppe argued that an inverse correlation between bitcoin and gold helps fuel it. The former fell to $3,886 an ounce on the day, the lowest since October 6.
“Gold falling and the combination is extremely bullish for risk assets, including altcoins,” he wrote.
Trader Killa, meanwhile, has $117,000 in mind as part of a pre-FOMC local top before Price returns to fill the latest gap of the weekend on the CME Group’s Bitcoin Futures market near $111,000.
Your welcome. My LTF plan is playing perfectly. Bullish narrative on fomc. https://t.co/BIGR5Q8KR9 pic.twitter.com/u2nsyjurtv
– Killa (@killaxbt) October 28, 2025
“The CME gap you see is not far off and I think breaking above this blue barrier will be a challenge,” he wrote.
“That said, we have a high chance of revisiting 111.2k.”
$111,000 cme gap looms large
Many market views still see a btc price dip at some point before the Fed event.
Related: Bitcoin too expensive for retail, threatens to end bull market cycle
Trader Bitbull Flagged Two areas of interest—$106,000 and $110,000—before BTC/USD headed to new all-time highs.
“I still expect BTC’s top to be gone, and there’s a big leg to the left,” he told X followers.
Count Cointelegraph reported.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.
