BTC faces further downside risk if it fails to reclaim $115,200

Analysts at Bitfinex have warned that Bitcoin faces a risk of falling to a range between $105,500 and $115,000 if it fails to reclaim the $115,200 level. According to The Block, the analysts noted that while liquidity has recovered as cryptocurrency futures positions increased following a U.S. Federal Reserve interest rate cut, BTC must first surpass the $115,200 mark to reach a new all-time high. Separately, QCP Capital projected that upcoming remarks from Federal Reserve Chair Jerome Powell and the release of U.S. Personal Consumption Expenditures (PCE) data this week will serve as short-term market catalysts.