TechFlow, November 2 — Bitcoin (BTC) is currently trading below its 7-day moving average: bearish; below its 30-day moving average: bearish; up +1.8% over the past week. BTC declined after Federal Reserve officials made statements, as market expectations for future rate cuts turned cautious and demand for risk assets weakened.
Strategy reported quarterly earnings, benefiting from its Bitcoin holdings, further reinforcing institutional demand. Momentum continues to build for U.S. crypto legislation and ETF applications, supporting long-term bullish sentiment for Bitcoin.
Amid the tug-of-war between macroeconomic factors and institutional capital flows, BTC is fluctuating near the $110,000 support level, with price action clearly influenced by policy developments and capital movements.
