Bitcoin traded around $114,501 as of 11:35 p.m. UTC on Oct. 26, extending a sharp break above $112,000 as short sellers withstood most of the day’s selloff and traders analyzed new messaging on U.S.-China trade talks ahead of this week’s FOMC meeting.
Small Group Summary
CoinDesk Research’s technical analysis model observed a move from $111,453 to $113,572, led by a surge at 09:00 UTC where volume surged approximately 318% above the session average, taking the price above the $112,000 ceiling.
Tracking added successive higher highs through midday before activity calmed, with price narrowing into a $113,550 to $113,720 zone. Attempts near $113,700 – $113,733 faded, setting immediate resistance, while a plateau formed near $113,300.
Verification of derivative products
Over the past 24 hours, CoinGlass recorded $393.74 million in liquidations across all locations, with $319.18 million from short positions and $74.45 million from long positions. The largest wipe was a $19.04 million BTC-USD order on Hyperliquid.
In short: traders betting against the move have been forced to exit much more than long positions, a dynamic that can amplify the rise once a key level crosses.
US-China consultations
Between 12:29 and 12:36 UTC, the Chinese Embassy in the United States issued three updates on
The articles listed work topics: Article 301 measures on China’s maritime, logistics and shipbuilding sectors; a possible extension of the suspension of reciprocal tariffs; tariff and enforcement cooperation regarding fentanyl; agricultural trade; and export controls. The embassy said the parties “have reached basic consensus” and would work out details through national processes.
A later article quoted He Lifeng as saying stable trade between the United States and China benefits both countries and called for dialogue on an equal footing. It refers to implementing the “important consensuses” reached by the two heads of state earlier this year, managing disputes and expanding mutually beneficial cooperation to promote trade relations to a “higher level.”
A third message states that the two sides agreed that they will use the consultation mechanism, maintain close communication on their respective concerns and promote healthy, stable and sustainable development of bilateral economic and trade relations. The tone was process-oriented and forward-looking, signaling continued negotiations rather than specific policy outcomes.
Trump-Xi meeting
On Friday, CNBC reported that the White House expects US President Donald Trump to meet with Chinese President Xi Jinping on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in a bid to ease tensions and seek a trade deal. The report quoted Trump as saying, “we’re going to do just fine” about the planned meeting.
Fed this week
The Fed’s two-day FOMC meeting will conclude on October 29, followed by Chairman Jerome Powell’s press conference. Markets will monitor changes in rates and balance sheet policy; For risky assets like crypto, the focus is on whether the Fed tapers or maintains, how it signals the trajectory from there, and the tone set by Powell.
What to watch next
If BTC closes above around $113,700 to $114,000 and holds this zone (UTC), traders will then look towards the $115,000 to $116,000 band. If BTC falls back below around $113,300 and stays there, a retest of $111,000 becomes more likely; deeper weakness could return to the $108,000 region that anchored the previous base.
Last reading of 24 hour and 1 month charts
On October 26, between 11:23 p.m. and 11:35 p.m. UTC, BTC stood at $114,501 (approximately +2.6% over the period). On the 24-hour price chart, buyers entered declines between $113,000 and $113,300 after the $112,000 breakout, while intraday surges met a bid near $114,700.
On the one-month chart (around $114,575), bitcoin has recovered from the mid-October low near $105,000 but remains below early October highs around $125,500; a daily close north of around $116,000 would strengthen the case for another test of the $120,000-$125,000 band.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
