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Bitcoin retreated to $113,000 on Wednesday as the S&P 500 surged to a new all-time high of 6,914, ahead of the U.S. Federal Reserve’s widely expected 0.25% interest rate cut. The world’s leading cryptocurrency struggled to regain its $116,000 level after a sharp sell-off, diverging from the bullish momentum seen in U.S. equities.
According to data, Bitcoin remains in a “volatile retest” phase, with traders eyeing key support at $111,000 and resistance around $114,500.
Analyst Rekt Capital noted,
“Bitcoin just needs to weekly close above $114.5K to confirm a successful retest.”
Meanwhile, Daan Crypto Trades pointed out that BTC has twice failed to break the $116K mark, saying,
“Price has moved back down closer to its large volume node around $111K.”
Despite optimism in traditional markets, analysts at QCP Capital called the upcoming FOMC meeting a “non-event,” noting that with limited economic data available due to the U.S. government shutdown, the Fed is “effectively flying blind.”
While Bitcoin wobbles, broader crypto sentiment remains steady, supported by the expected easing of monetary policy that typically benefits risk assets like cryptocurrencies.
Top 5 Cryptocurrencies by Market Value
| Rank | Cryptocurrency | Price (USD) | 24h Change | Market Cap (Approx.) |
| 1 | Bitcoin (BTC) | $113,000 | -2.1% | $2.23 Trillion |
| 2 | Ethereum (ETH) | $3,240 | +0.5% | $389 Billion |
| 3 | Tether (USDT) | $1.00 | 0.0% | $118 Billion |
| 4 | BNB (BNB) | $605 | -0.8% | $89 Billion |
| 5 | Solana (SOL) | $188 | +1.4% | $87 Billion |
While stocks hit record highs, Bitcoin’s sideways movement shows traders are waiting for clear signals from the Fed. Analysts suggest that once policy clarity emerges, crypto markets could regain momentum, potentially pushing BTC back toward its $120K mark in the coming weeks.
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