Bitcoin Price Analysis: 2.6% Gain as $319M in Shorts Liquidated; Trump–Xi Meeting Ahead

Bitcoin rebounded as it cleared $112,000, reaching approximately $114,500 on high trading volume late Sunday. Over the last 24 hours, $393.74 million in positions were liquidated, with $319.18 million from short sellers. Traders are now focusing on the $115,000–$116,000 range in anticipation of key U.S.–China trade talks, notably a scheduled meeting between President Donald Trump and President Xi Jinping on October 30. Technical analysis indicated significant trading activity as Bitcoin surged, breaking through resistance levels. Should it maintain levels above $113,700, the market could test higher ranges; however, a drop below $113,300 could signal a potential retest of $111,000. The upcoming Federal Reserve meeting on October 29 is also critical, as it will provide insights into interest rate policies affecting market sentiment.

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