TechFlow, September 15 — Bitcoin failed today to break above $117,000, continuing to trade within the range of $114,000 to $117,000. Analysts at BiyaPay noted that this range has become a key battleground between bulls and bears, with future direction likely dependent on the Federal Reserve's interest rate decision and China-U.S. economic and trade talks.
On the macro front, a Fed rate cut could reshape liquidity expectations. During the first month of the 2019 easing cycle, BTC rose 37%. Meanwhile, central banks in multiple countries have signaled potential increases in bond purchases in Q4, and the global trend toward monetary easing supports crypto assets.
From a market structure perspective, the options put-call ratio (PCR) has risen to 0.65, indicating increased hedging demand. On the capital flow side, digital asset funds saw net inflows of $120 million last week, though Bitcoin ETF shares declined as capital rotated into Ethereum and Solana.
Analysts say declining volume reflects caution, with $117,000 likely remaining a resistance level. Progress in China-U.S. talks on digital asset regulation and cross-border payments could emerge as a new catalyst. As a global multi-asset trading platform, BiyaPay offers users zero-fee cryptocurrency, Hong Kong/U.S. stock, and cross-border payment services.
