$BTC Bitcoin ($BTC ) – Quick Today's Update

Current Price: Around $113,147, trading lower by roughly 0.47% from the prior close. Intraday range spans $112,021 to $113,960.

Recent Market Movement: $BTC slipped roughly 5–8% this month, dipping to around $113K from its recent all-time high near $124K—a correction widely attributed to macroeconomic uncertainty and cautious investor sentiment.

Market Pressure Drivers:

Federal Reserve Watch: Investors are nervous ahead of Fed Chair Jerome Powell’s Jackson Hole Symposium speech, fearing he might dampen hopes of imminent interest rate cuts.

Liquidations: Over $530 million in long positions liquidated recently—$124M in $BTC and $184M in ETH—adding to the selling pressure.

Bullish Outlook Still Alive: Analysts see potential upside if BTC breaks above resistance levels—especially around $123K–$125K—with possible targets up to $130K, and even forecasts as high as $200K within 6–12 months if sustained by institutional buying and favorable policy signals.

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Summary (TL;DR)

Price: ~$113K, modest drop today

Why: Macro caution and Fed anticipation

Key Catalyst Ahead: Powell’s speech could sway direction

Outlook: Pullback still intact; a breakout may reignite bullish momentum