Bitcoin reclaims $115K: Watch these BTC price levels next

Cointelegraph

Key takeaways:

Bitcoin price rose 1.5% to over $115,000, with onchain indicators suggesting market momentum is picking up.
BTC must hold above $115,000 to secure the recovery, with resistance at $116,000-$121,000.

Bitcoin price was up on Friday, rising 1.5% over the past 24 hours to trade above $115,000. Several technical and onchain indicators suggest the BTC market is “advancing on firmer footing” to higher levels, according to Glassnode.

Bitcoin derivatives “set the tone” for BTC price

Bitcoin’s ability to stage a sustained recovery has been curtailed by weak spot demand and softening ETF inflows.

“Attention now shifts to derivatives markets, which often set the tone when spot flows weaken,” Glassnode wrote in its latest Week Onchain report.

The chart below shows that Bitcoin’s volume delta bias, measuring the imbalance between buying and selling pressure, recovered during the rebound from $108,000, signaling seller exhaustion across exchanges like Binance and Bybit.

This suggests that futures traders “helped absorb recent sell pressure,” said the market intelligence firm, adding:

“Going forward, the evolution of derivatives positioning will be critical to navigating the market in this low spot-liquidity environment.”

Meanwhile, options open interest (OI) reached $54.6 billion, an all-time high, up 26% from $43 billion on Sept. 1. This reflects growing investor interest in the derivatives market, which can positively affect BTC price.

Note that when options OI reached its previous record high in mid-August, it was accompanied by Bitcoin's rise to new all-time highs above $124,500.

Additional options OI data shows a clear bias toward calls over puts, “highlighting a market that leans bullish while still managing downside risk,” Glassnode said, adding:

“Both futures basis and options positioning reflect a more balanced structure than in past overheated phases, pointing to a market advancing on firmer footing.”

As Cointelegraph reported, Bitcoin’s $4.3 billion options expiry on Friday favors bullish bets, and could open the door for BTC rally to $120,000 as long as the price stays above $113,000.

Key Bitcoin price levels to watch next

Data from Cointelegraph Markets Pro and TradingView shows Bitcoin price trading at $115,400 after running into resistance around $116,000. The pair must hold above $115,000 for a sustained recovery.

There is a major supply zone stretching from $116,000 to $121,000, which Bitcoin will have to overcome to continue its uptrend toward all-time highs.

Conversely, the bears will attempt to defend the $116,000 level and push the price back down. A key area of interest lies between $114,500, where the 50-day simple moving average (SMA) currently sits, and $112,200, embraced by the 100-day SMA.

Another area of importance stretches from the local low at $107,200 (reached on Sept. 1) to the $110,000 psychological level.

Bitcoin is “now pushing to the previous monthly open,” said pseudonymous trader KillaXBT in an analysis on X, referring to the August open around $115,700.

“This is a crucial pivot point in terms of trend direction. We could see some deviation above, as always.”

The liquidation heatmap shows the liquidity clusters between $116,400 and $117,000, per data from CoinGlass.

If broken, this level could spark a liquidation squeeze, forcing short sellers to close positions and driving prices toward $120,000.

On the downside, heavy bid orders are sitting around $114,700, with the next major cluster sitting between $113,500 down to $112,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Avertissements sur les risques et avertissements en matière d'investissement

Vous comprenez et reconnaissez que le trading avec des stratégies comporte un degré élevé de risque. Suivre des stratégies ou des méthodologies d’investissement entraîne un risque de perte. Le contenu du site est fourni par nos contributeurs et analystes à titre informatif uniquement. Vous êtes seul responsable de déterminer si des actifs de négociation, des titres, une stratégie ou tout autre produit vous conviennent en fonction de vos objectifs d'investissement et de votre situation financière.

Divulgation des risques

Le risque de perte dans la négociation d'instruments financiers tels que les actions, les devises, les matières premières, les contrats à terme, les obligations, les ETF et les crypto-monnaies peut être substantiel. Vous pouvez subir une perte totale des fonds que vous déposez auprès de votre courtier. Par conséquent, vous devez examiner attentivement si ce type de négociation vous convient, compte tenu de votre situation et de vos ressources financières.

Aucune décision d'investissement ne doit être prise sans avoir procédé soi-même à une vérification préalable approfondie ou sans avoir consulté ses conseillers financiers. Le contenu de notre site peut ne pas vous convenir car nous ne connaissons pas votre situation financière et vos besoins en matière d'investissement. Nos informations financières peuvent avoir un temps de latence ou contenir des inexactitudes, de sorte que vous devez être entièrement responsable de vos décisions en matière de négociation et d'investissement. La société ne sera pas responsable de vos pertes en capital.

Sans l'autorisation du site web, vous n'êtes pas autorisé à copier les graphiques, les textes ou les marques du site web. Les droits de propriété intellectuelle sur le contenu ou les données incorporées dans ce site web appartiennent à ses fournisseurs et marchands d'échange.

recherches récentes

Principales recherches

Citations

Analyse

Utilisateur

24/7

Calendrier économique

Education

Données

Bitcoin reclaims $115K: Watch these BTC price levels next

Divulgation des risques