Bitcoin Point Of Control Sits At $117K – Key Battle Zone For Bulls

Bitcoin sharply dropped below $110,000 after the Fed's rate cut and tightening announcement, causing market panic. Analysts suggest this may be a shakeout before renewed upward movement, a common pattern during liquidity expansion. All eyes are on Bitcoin's ability to stabilize and reclaim the $110,000 level. The Point of Control (PoC) at $117,000 defines Bitcoin's current price structure, representing the highest traded volume. Trading below the PoC signals bears may have the advantage for now. Reclaiming $117,000 could trigger renewed momentum toward $120,000–$123,000. Bitcoin is currently trading to recover near $110,180, trying to stabilize after the drop. If Bitcoin holds $110K, a resistance is met at $112,000–$113,000, otherwise support can be found at $108,500 and $106,000. The recovery is fragile, requiring a break above $112,000–$113,000 to reach the $117,500 Point of Control.