Bitcoin Price Prediction: BTC Targets $115K After Rebound From Support

Highlights:

• Bitcoin bears have been rejected at the $109,758 support level
• Rally off this support could see Bitcoin soon test $115,835 resistance 
• Possible rate cut in the US could keep Bitcoin momentum up

Bitcoin (BTC) is in the red today, mirroring the trend across the cryptocurrency market. In the last 24 hours, Bitcoin has dropped by 1.69% to trade at $110,607. At the same time, Bitcoin trading volumes have fallen by 19.82% to stand at $68.95 billion. Such a sharp drop in volumes at a time when the price is a positive signal. 

This indicates that Bitcoin holders are not liquidating their holdings, even as the price shows weakness. Such confidence means even though the price is showing weakness, the decline is unlikely to be steep, compared to altcoins. Several factors support Bitcoin’s potential rebound despite its intraday weakness. 

Possible Rate Cut Could Trigger A Bitcoin Price Rebound

One of them is the potential for another rate cut in the US. Jerome Powell recently gave a speech that suggests quantitative easing is coming. Such a move would mean an increase in cheap capital. This typically shifts into risk-on assets and has, in the past, benefited cryptocurrencies more than other asset classes.

Fed Chair Jerome Powell announced that the Fed is nearing the end of quantitative tightening.

It’s about time.

For months, I’ve been recommending the halt of quantitative tightening.

QT should have been stopped more than a year ago. pic.twitter.com/R29eXt3dz1

— Steve Hanke (@steve_hanke) October 16, 2025

This time around, Bitcoin, among other cryptocurrencies, stands to benefit more from QE. That’s because, from marketwide price action in the last two years, institutional capital seems to prefer Bitcoin and Ethereum over all other cryptocurrencies. As such, a significant rate could trigger a rally to new highs. Even prices as high as $200k could be possible in the short to medium term. This explains why, even as the market shows weakness and some altcoins are down by double digits, Bitcoin is only experiencing a minor dip.

Bitcoin Mass Adoption Increasingly Becoming Reality

At the same time, the infrastructure for mass adoption of Bitcoin is strengthening. Additionally, the ETFs that have made it easier for institutions to hold Bitcoin are also gaining government approval. In the US, Erebor, a startup cryptocurrency bank, has received approval from the Office of the Comptroller of the Currency (OCC). It marks the first fully crypto bank that the FDIC fully backs. This is a significant development because it provides an incentive for the general public to invest in Bitcoin. It also adds to the legitimacy of the cryptocurrency market, and Bitcoin in particular, further helping drive up capital flow.

Erebor Bank (backed by Peter Thiel + Palmer Luckey) just got U.S. regulatory approval as a “cryptobank.”

They’re building around stablecoins — and Thiel already backs @reserveprotocol ($RSR), which is doing #RWAs -backed stables + crypto index tokens.

If Erebor’s banking rails… pic.twitter.com/Ng89S7yoOK

— Deez 🅡 🪳Nuts (@CryptoWolf6969) October 16, 2025

Investors Remain Cautious Due to Ongoing Trade War

Despite these structural changes that support Bitcoin, the price is likely to remain shaky due to the ongoing trade war. China and the US are still engaged in a back-and-forth tariff war that has now expanded into the maritime space.

Bitcoin bleeds as Trump’s ‘cooking oil war’ with China shakes global markets

The crypto market just can’t catch a break. After Trump’s latest threat to ban Chinese cooking oil imports, fears of a full-blown U.S.– China trade war have resurfaced sending Bitcoin sliding below… pic.twitter.com/cukudghoey

— Aditya (@adityaeth) October 15, 2025

Such disruptions to the global economy are likely to drain capital from risk-on assets into safety assets such as Gold. This may explain why, even as the cryptocurrency market remains weak, safe assets like Gold are making new all-time highs daily. As such, while Bitcoin’s long-term trajectory is upward, the odds are high that it could remain directionless until there is clarity on the future of US-China relations. 

Technical Analysis – Bitcoin Price Bounces Off Multi-Day Support

After a correction for the better part of the last 24 hours, Bitcoin has bounced off the multiday support at $109,758. If bulls sustain this momentum, then Bitcoin could rally to the short-term resistance at $115,835. A rally through this resistance could see Bitcoin test $120k in the short term.

On the other hand, if bulls lose momentum and a correction occurs through the $109,758 support, a short-term correction to $100k could follow. Of these two scenarios, the odds are higher for a rally to $115,835. That’s because the financial markets are overall stabilizing after the sharp correction in correction on Friday, October 10.