The post Can Bitcoin Price Test $134,000 as Repo Liquidity Rises in Q4? appeared on BitcoinEthereumNews.com.

Bitcoin (BTC USD) price held a tight range near recent highs within converging trendlines. The range followed a strong advance earlier in the month. At the time of writing it Bitcoin (BTC) price was trading at $108,901.80 at the time of writing, down 1.14% over the past 24 hours. It fell 5.4% over the week and 10.67% over the past month. Market participants assessed a bullish pennant and a fresh Federal Reserve repo injection. Bitcoin (BTC USD) Price Consolidated Near Key Resistance Technical traders described the price structure as a bullish pennant. The pattern formed after a sharp rally and brief consolidation. A bullish pennant typically signals continuation after a break above resistance. In practice, traders watched the upper trendline for confirmation. On many charts, a key resistance level sat near $134,000. That area aligned with recent swing highs and the pattern’s cap, though Bitcoin remained below its all-time high of about $126,198. Volume picked up as the range matured. Rising activity often preceded larger directional moves in liquid markets. Analysts cited steady spot demand and firmer retail flows. Those inputs supported calls for a $134,000 test if resistance gave way. Derivatives data also shaped expectations. The Bitcoin market showed about $4.2 billion in outstanding short positions across venues. Short positioning created both risk and opportunity. A fast break higher sometimes forced covering and increased upside torque. Not all signals pointed higher. Daily momentum readings softened, which hinted at fading near-term strength. For context, the Relative Strength Index measured momentum on a zero-to-100 scale. Higher readings indicated strong demand, falling readings flagged weakening momentum. Source: X Macro Liquidity and Repo Backdrop Macro conditions influenced positioning through liquidity channels. The Federal Reserve added roughly $29 billion via overnight repo operations. Traders compared this move with interventions during 2020. Back then, abundant…

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Filed under: News - @ November 3, 2025 4:25 am