The crypto market consolidated on Wednesday as traders positioned cautiously, with Bitcoin falling below $113,000. At press time, Bitcoin was trading at $112,913, having reached an intraday low of $112,075, extending its drop from Monday's high of $116,410 into the third day.
Key catalysts from a macro perspective this week include the Federal Reserve interest rate decision due later today.
The world’s largest cryptocurrency remained up 3.92% over the past week but fell 1.45% in the past 24 hours, mirroring modest losses across major cryptocurrencies.
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The Fed is widely expected to cut rates by a quarter point at the conclusion of its meeting Wednesday, but less certain is whether Chair Jerome Powell will strike a dovish tone in his post-meeting comments. Investors are counting on another interest rate cut from the central bank at its December meeting.
Peter Brandt highlights possibility for Bitcoin price
In a tweet indirectly addressed to Bitcoin holders, the veteran trader highlighted a possibility for the Bitcoin price as he asked holders to consider a chart pattern (most likely triangle pattern) in AIRR.
Nice chart. I accept this as a possibility https://t.co/PGQYxJArBx
— Peter Brandt (@PeterLBrandt) October 29, 2025Brandt asked them to state if and when the pattern is either confirmed or negated: "Most highly recommend that those bullish on a certain crypto starting with the letter 'B' learn to understand if and when this pattern is either confirmed or negated."
An X user responded, praising his analysis and adding that if the pattern is negated, Bitcoin might be ready for a huge bull run, as it might yield a bullish megaphone pattern, which might push the BTC price higher.
This Brandt agreed to, saying, "Nice chart. I accept this as a possibility." Brandt later shared another chart, this time on Dow futures, which he used to confirm his agreement on the possibility. "Here is another example. I agree with your chart as a possibility," Brandt wrote.
Earlier in October, Brandt indicated that Bitcoin was forming a pattern similar to soybeans' 1977 broadening top, which led to a 50% drop in value.
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