Bitcoin Price Prediction: BTC Consolidates as Derivatives Activity Surges

1d ago•

bullish:

bearish:

Bitcoin consolidates near $114K as traders await breakout above key resistance zones
Futures open interest hits $73.3B, signaling rising institutional and leveraged activity
Persistent $129M exchange outflows suggest strong long-term accumulation despite volatility

Bitcoin is consolidating near $114,000 after facing rejection from $126,327 earlier this month. The 4-hour chart reveals a corrective structure forming between $110,000 and $115,000, signaling a pause in the recent uptrend.

This range-bound movement follows a strong rally in early October and now reflects an equilibrium between buyers and sellers. Traders are closely monitoring the $110,000 support zone, which remains the key line of defense against deeper corrections.