Bitcoin Price Analysis: 2.6% Gain as $319M in Shorts Liquidated; Trump–Xi Meeting Ahead
Bitcoin rebounded above $112,000, liquidating $319M in short positions, while traders awaited clarity from U.S.-China talks and the upcoming FOMC meeting.Summary
Bitcoin surged past $112,000 to hover near $114,500, driven by heavy volume and the forced liquidation of $319 million in short positions, which can amplify upward momentum. This price action occurred as traders monitored developments from recent "candid, in-depth and constructive" consultations between Chinese Vice Premier He Lifeng and U.S. Treasury officials regarding trade issues. Furthermore, anticipation is building for the Federal Reserve's FOMC meeting concluding this week, where guidance on interest rates will be crucial for risk assets. Technically, holding above $113,700–$114,000 could target the $115,000–$116,000 band, while a drop below $113,300 might lead to a retest of $111,000. The market is also looking ahead to a potential meeting between President Trump and President Xi Jinping on October 30 at the APEC Summit.
(Source：CoinDesk)