Bitcoin traded around $114,501 at 23:35 UTC on October 26, extending a clear break above $112,000 as short sellers took on the bulk of the day’s liquidations and traders analyzed new releases on US-China trade talks ahead of this week’s FOMC meeting.
Breakup 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 jumped approximately 318% above the session average, pushing the price through the $112,000 boundary.
Tracking added successive highs through midday before activity cooled, with the price narrowing to a box of $113,550 to $113,720. Attempts near $113,700-$113,733 faded, defining immediate resistance, while a platform formed near $113,300.
Derivatives verification
Over the past 24 hours, CoinGlass recorded $393.74 million in liquidations across all venues, including $319.18 million of short positions and $74.45 million of long positions. The biggest deletion was a $19.04 million BTC-USD order on Hyperliquid.
In simple terms: Traders who bet against the move were forced to exit far more than long positions, a dynamic that can amplify the upside once a key level is broken.
Consultations between the United States and China
Between 12:29 and 12:36 UTC, the Chinese Embassy in the US posted three updates on
The posts listed work topics: Section 301 measures on China’s maritime, logistics and shipbuilding sectors; a possible extension of the suspension of reciprocal tariffs; cooperation on law enforcement and tariffs related to fentanyl; agricultural trade; and export controls. The embassy said the parties “reached basic consensus” and would resolve specific details through internal processes.
A subsequent post quoted He Lifeng as saying that stable trade between the United States and China benefits both countries and calling for dialogue on an equal footing. He referred to the implementation of “important consensus” reached by the two heads of state earlier this year, managing differences and expanding mutually beneficial cooperation to promote trade ties to a “higher level.”
A third post said both sides agreed that they will use the consultation mechanism, maintain close communication on their respective concerns, and promote the healthy, stable and sustainable development of bilateral economic and trade relations. The tone was process-oriented and forward-looking, indicating ongoing conversations 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, with the goal of reducing tensions and seeking a trade deal. The report quoted Trump as saying, “We’re going to come out of the planned meeting very well.”
Fed this week
The Federal Reserve’s two-day FOMC meeting concludes on October 29, followed by Chairman Jerome Powell’s press conference. Markets will be attentive to guidance on the path of rates and balance sheet policy; For risk assets like cryptocurrencies, the focus is on whether the Fed cuts or holds, how it signals the path from here, and the tone Powell takes.
What to see next
If BTC closes above around $113,700 to $114,000 and holds that area (UTC), traders will next look for the $115,000 to $116,000 band. If BTC falls back below around $113,300 and stays there, a retest of $111,000 is more likely; Deeper weakness could revisit the $108,000 region that anchored the previous base.
Last reading of the 24-hour and one-month chart
At 23:23-23:35 UTC on October 26, BTC was $114,501 (approximately +2.6% over the period). On the 24-hour price chart, buyers intervened in the declines towards $113,000-$113,300 after the breakout of $112,000, while intraday impulses found supply near $114,700.
On the one-month chart (around $114,575), bitcoin has recovered from mid-October lows 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 to $125,000 band.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
