Bitcoin is currently navigating a tight trading range, maintaining prices below critical breakout levels as buyers and sellers establish a limited corridor. This trend was evident at 08:00 UTC, as Bitcoin’s price fluctuated within a narrow band.
According to technical analysis data from CoinDesk Research, Bitcoin’s trading activity over the 24 hours leading up to October 25 at 08:00 UTC displayed a price movement from $111,157, peaking at $111,634. During this session, the cryptocurrency remained confined within approximately $2,025, representing around 1.8%. Resistance levels have been identified around $111,800 to $111,900, while support has been noted near $109,800. Currently, there appears to be no overwhelming catalyst driving a significant move in either direction.
In terms of trading volume, activity surged on October 24 at 14:00 UTC, reaching a notable 23,728 BTC. This figure is approximately 180% higher than the average 24-hour volume of 8,200 BTC, as prices approached $109,818 and stabilized. As the final hour closed, Bitcoin eased slightly from $111,745 to $111,545, a drop of about 0.18%. The turnover cooled to approximately 85 BTC per minute, down from about 135 BTC per minute, indicating a consolidation phase as the price coiled between $111,540 and $111,645.
Looking ahead, a decisive break and hold above the $112,000 level could redirect focus towards the $115,000 mark. Conversely, a failure to maintain support at $109,800 might bring $108,000 back into consideration.
In the same timeframe, the CoinDesk 5 Index (CD5) showed a rebound from 1,920.75 to 1,961.57, ultimately settling at 1,940.94 by 08:00 UTC on October 25, leaving momentum mixed and just shy of the 1,950 region.
Moving averages also play a crucial role in the current landscape, with the 200-day average positioned around $108,000 and the 100-day average near $115,000 serving as important reference points in evaluating Bitcoin’s ongoing trends.
