Bitcoin Analysis: What to expect for the price of BTC this week?

After the sharp drop in mid-October, which caused liquidations of over $19 billion, Bitcoin began to recover again. Its price has risen from lows near $105,000 to even touch $116,000 today, setting up for significant movements this week.

At the time of writing, the price of Bitcoin is trading at $115,047, with daily gains of 1.33%, weekly gains of 3.39%, and monthly gains of 5.21%. While the largest cryptocurrency rises, the movements in the altcoin market are mixed.

What is behind the current levels of BTC?

The last week of October is marked by the coincidence of several key macroeconomic factors, making it a decisive period for financial markets and cryptocurrencies. BTC could be reacting to these factors.

However, the main event will be the meeting of the U.S. Federal Reserve, which will conclude its FOMC meeting on Wednesday and announce its decisions regarding interest rates and the future of its Quantitative Easing program.

There is also optimism regarding the fact that former U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to meet on Thursday, October 30, 2025.

The most enthusiastic analysts foresee an agreement that will end the trade conflict. The meeting will take place during the Asia-Pacific Economic Cooperation Forum (APEC) in South Korea.

This way, this week is shaping up to be a period with multiple favorable factors for the market.

Analysis of BTC charts: key levels to watch

The price of BTC is in the midst of a strong weekly bullish trend and has surpassed significant resistance levels. It now faces new challenges below $120,000.

Resistances to consider:

• $116,437: resistance level corresponding to the weekly high where BTC corrected sharply.
• $118,000: intermediate resistance zone where profit-taking could occur.
• $120,000: the most significant psychological resistance, whose breakout could push BTC back towards highs.

Supports to observe:

• $114,510: daily low, aligned with the EMA 50.
• $112,970: level where BTC could find support, although not with great solidity.
• $110,000: stronger psychological support, likely defense point for buyers.

The RSI, currently at 50 points, shows a balance between bullish and bearish pressure. In the short term, everything points to a phase of stability and consolidation.

Important data to consider about BTC

The surge of BTC triggered the liquidation of $160 million in short positions after surpassing the key level of $112,000, an area that had concentrated the highest bearish pressure in the market.

Bitcoin reserves in the United States reached 3.865 BTC after a sustained period of mining and accumulation. If it maintains this pace, the North American country will soon surpass the threshold of 4,000 BTC.

The number of large Bitcoin holders, known as whales -those with more than 1,000 BTC-, fell to 1,350 on October 26, its lowest level in three months.

A data analysis reveals that, in the last ten days, nearly 7 million BTC have returned to profitability. Of that total, about 5.1 million belong to investors who have held them for less than six months.

The world's largest Bitcoin holder, Strategy, increased its reserve by purchasing 168 BTC. With this acquisition, its treasury reaches a total of 640,418 bitcoins.

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