Bitcoin Battles Volatility, Eyes Breakout Above $115,000 Resistance

Bitcoin price hovers around the $111,320 level, attempting to break a two-week downward trend. Analysts attribute this move toward breaking through resistance at $115,000 to recent volatility and upcoming Fed rate cuts. 2 weeks of decline followed by a surge to $121,000 in July, Bitcoin’s August trading has been between $113,000-$120,000 before a recent 3.2% drop exposes seller pressure. However, the next move is critical as Bitcoin faces an inflection point near its current price level.