Bitcoin (BTC) is showing signs of recovery on Monday, October 27th, with the Crypto Fear & Greed Index rising to 51 and neutral for the first time since President Trump launched a new tariff war with China a few weeks ago.
As of this writing, the cryptocurrency is trading at $115,420, up 2.60% over the past 24 hours, roughly mirroring the broader crypto market’s 2.50% rise.
As a result of promising technical signals, macroeconomic relief, and new institutional inflows, this rally has allowed BTC to revert to its 50-day exponential moving average (EMA) of $114,176.
According to market analyst Ted Pillows, the $114,000 range also acts as support, and he currently sees $118,000 as the next important target to watch.
If “digital gold” soars above that level, Pillows predicts Bitcoin could reach a new all-time high (ATH) as early as next week.
“Now Bitcoin needs to reclaim the $118,000 zone and a new ATH could happen within 1-2 weeks.” I wrote Pillows on X.
$BTC has fully regained the $114,000 support zone.
Currently, Bitcoin needs to regain the $118,000 zone and a new ATH could occur within 1-2 weeks. pic.twitter.com/XlfSBwt6h0
— Ted (@TedPillows) October 27, 2025
The amount of Bitcoin matters
Elaborating further in his comments, Pillows emphasized that volume confirmation will be key to success and the $118,000 support zone needs to be maintained.
At the time of writing, daily trading volume reached $59.45 billion, a jump of over 140%, greatly supporting the bullish outlook.
The analyst added that price trends “look good” and momentum “still exists,” but acknowledged that unfavorable macroeconomic twists could still negatively impact the upward trajectory.
Last Friday’s consumer price index (CPI) +0.3% last month (expected +0.4%) greatly increased expectations for a Fed rate cut on October 29th. According to the crypto-based forecasting platform, traders see a 98% chance of a rate cut. Polymarket.
A new U.S.-China trade deal was also signed over the weekend, temporarily suspending new tariffs and easing some rare earth export restrictions.
Traders are therefore looking to see if Bitcoin can sustain above $114,000 in the days leading up to the next Fed meeting on Wednesday and the Washington-Beijing summit on November 1st, which could set the tone for the Pillows in the $118,000 range and potentially a new all-time high.
Featured image via Shutterstock
