Bitcoin Tests $112,000 After Cleveland Fed’s Harker Rejects Rate Cuts — Analysts Warn of $99K to $82.8K Retracement

Cleveland Fed President Harker stated in a recent interview that he would not support a rate cut, noting that headline inflation remains elevated and has shown upward momentum over the past year. Based on current macro data, he sees no justification for lowering short-term interest rates and advocates maintaining modest tightening to guide inflation back toward target.

The hawkish remarks pressured Bitcoin, with BTC testing the $112,000 area. Technical analysts at BiyaPay reported a breach of the April uptrend from $75,000 and the emergence of a daily double-top (2B) formation; they indicate that a confirmed break below $111,920 could initiate a measurable technical retracement toward approximately $99,226.

Applying a 33.58% maximum-cycle retracement produces a potential low near $82,850; analysts urge disciplined risk management. BiyaPay reiterates its multi-asset wallet offerings — global remittance, crypto trading and US‑HK stock access — as execution tools for volatile markets.