Bitcoin price prediction: BTC steady near $114k amid fading upside pressure

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Bitcoin price prediction

Highlights

- Bitcoin holds $114,000 key support as traders watch for next monthly move.

- Short liquidations above $116,000 signal fading bearish pressure across crypto markets.

- 50-day EMA alignment at $114,000 support suggest possible rebound before October closes.

Yesterday’s retracement came shortly after Bitcoin reached a three-week high above $116,000, completing the rally that lifted prices more than 12% from the prior week’s low near $104,000. That rally triggered large-scale liquidations in bearish positions, totalling roughly $358 million across the broader crypto market. Bitcoin alone accounted for about $177 million of that total, reflecting the scale of forced exits among traders betting on further declines.

Bitcoin price dynamic (June - Oct 2025). Source: Tradingview

The selloff that followed at the $116,000 peak produced a bearish doji candlestick pattern on the daily chart. The pattern featured a long upper wick and a small lower body, a classic signal that buying strength met strong resistance from sellers. Despite that, the pullback has so far been limited, as price continues to consolidate above the $114,000 support level, where buyers appear to be defending gains from the prior week.

Bitcoin liquidation data shows fading bearish bets after $358 million short squeeze

From a technical perspective, the 50-day EMA is providing an additional layer of support at the same level. If Bitcoin holds above this area, it would keep the structure of higher lows intact and preserve the broader uptrend that began earlier in October. A rebound from this zone could open the door for another leg toward $118,000 in the short term. However, a sustained break below $114,000 could expose $110,000 as the next major downside target.

On the fundamental side, improving market sentiment has contributed to the broader recovery across cryptocurrencies. As such, there has been large-scale liquidation of shorts, which reflects a shift from excessive pessimism to neutral positioning, allowing room for renewed buying interest. As October draws to a close, traders are focused on whether Bitcoin can convert this support zone into a base for further expansion or whether fading momentum will lead to another round of profit-taking before the new month begins.

We discussed Bitcoin extending its winning streak after a breakout above EMAs strengthened bullish momentum. Golden crossover and easing selling pressure supported the outlook for a $120,000 upside target.

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