Bitcoin price pullback ahead of the FOMC meeting is seen as a routine correction as BTC remains strong above the key $112,000 support level.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
2 mins read
Following the rejection at $115,000 earlier this week, Bitcoin BTC $113 093 24h volatility: 1.0% Market cap: $2.26 T Vol. 24h: $67.25 B price has been flirting with $113,000, amid some selling pressure ahead of the FOMC meeting.
Market analysts noted that this BTC behavior often occurs ahead of a Fed rate cut announcement, and the rally remains intact. Several experts are highlighting bullish on-chain metrics to support the upward movement.
Crypto analyst Michael van de Poppe said the recent market pullback appears to be a routine correction ahead of the upcoming Federal Open Market Committee (FOMC) meeting, rather than a sign of weakness. The inflows into spot Bitcoin ETFs highlight strength here.
According to van de Poppe, the Bitcoin price is maintaining strength above the key $112,000 support level, suggesting stability in the broader market structure.
He added that he expects Bitcoin to hold current levels and resume its uptrend once this short-term correction phase concludes.
Nothing bad is happening to the markets.
It's the standard correction pre-FOMC.#Bitcoin is holding up above the crucial level at $112K and looking for support.
I'm expecting it to be holding up here, and to continue the uptrend after this test. pic.twitter.com/n2wjwZPDkj
— Michaël van de Poppe (@CryptoMichNL) October 28, 2025
Crypto analyst Javon Marks stated that the Bitcoin price is forming a rising wedge pattern and preparing for a breakout to the upside.
He cited the past instances during 2013, 2017, and 2021, where a breakout from these chart patterns triggered a major rally ahead.
Usually, a rising/ascending wedge pattern would be considered bearish but in Bitcoin's case, each of its macro rising wedges have resulted in huge breakouts and bull runs.
As Bitcoin holds in yet another one of these patterns, sights are on another huge breakout coming in…… pic.twitter.com/lrGu8pRZav
— JAVON⚡️MARKS (@JavonTM1) October 28, 2025
Despite recent selling pressure, veteran investor Robert Kiyosaki still predicts that Bitcoin could reach $200K this year.
WHY LOSERS lose:
I was showing a friend my coin base app, explaining that a few years ago it was pathetic. Today my app showed my friend I have millions in Bitcoin…. and I think Bitcoin will double in price this year…. Possibly a high of $200k.
Although my coin base showed I…
— Robert Kiyosaki (@theRealKiyosaki) October 29, 2025
In his recent posts, Kiyosaki predicted the potential collapse of the US Dollar and has been advising his followers to invest in Bitcoin, Ethereum ETH $4 007 24h volatility: 2.4% Market cap: $483.59 B Vol. 24h: $34.08 B , gold, and silver.
On the other hand, Bitcoin’s derivatives market has flipped back to positive funding after a sharp reset that cleared excessive leverage from the system.
The move follows a wave of negative funding that flushed out leveraged positions, paid out short traders, and cooled off open interest, highlighting renewed bullish momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.