Analysis: Bitcoin remains range-bound between $108,000 and $112,000, with bulls anticipating interest rate cuts and a Q4 rebound.

Bitcoin has been stuck in the $108,000-$112,000 range for nearly two weeks as options have shifted to a more defensive stance ahead of the release of U.S. inflation data. Analysts say a September rate cut could amplify the historic bullish returns of the fourth quarter. Derive research director Sean Dawson said last week's weak U.S. jobs data reinforced expectations of a rate cut and boosted options pricing. The CMEFed Watch tool shows a 100% chance of a rate cut at this month's Federal Reserve meeting. Prediction markets are also signaling accordingly. Polymarket currently predicts a 16% chance of a 50 basis point rate cut in September, up from around 10% late last week, while the probability of no rate cut is closer to 3.5%. (The Block)