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Bitcoin Needs $110K Breakout to End Downtrend Amid Fed Rate Cuts and On-Chain Signals

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BTC
$88,306.500.05%
Bitcoin is trading in the mid-90K range, below a descending resistance line per Dave the Wave. On-chain analysis shows short-term holders have been underwater for 45 days, hinting at possible seller exhaustion. A move above $110K is needed to reverse the downtrend, with support at $70K–$75K. The Fed’s third rate cut in three months could trigger a repricing of risk assets. On-chain data remains key for tracking near-term sentiment shifts.
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