Bitcoin News Today: Bitcoin's Bullish Riddle: Can It Crack $111,900 Without Crumbling?

Bitcoin's price has recently shown signs of resilience amid a complex market environment, with analysts closely monitoring key support levels and technical indicators to gauge its short-term trajectory. The cryptocurrency has experienced a rebound of over 2% in the past 24 hours, effectively erasing weekly losses and stabilizing its seven-day performance. While the yearly trend remains strong with an 80% increase, the three-month gains have remained constrained below 5%. A combination of derivatives market signals, whale activity, and technical patterns suggest that the recovery may not yet be complete [1].

Data from the derivatives market indicates a surge in bullish sentiment, as evidenced by the Taker Buy/Sell ratio reaching monthly highs of approximately 1.10. This metric compares buy volume to sell volume and is often interpreted as a gauge of investor sentiment within the derivatives market. Despite the optimism, the potential for downside risks appears to be limited at present [1]. Cost basis heatmap data reveals strong resistance clusters between $109,995 and $111,768, with nearly 268,000 BTC concentrated in this zone. Breaking through this range could drive significant upward momentum, particularly given the prevailing bullish sentiment [1].

On the downside, another cluster between $108,250 and $108,829 holds over 223,000 BTC, providing robust support for Bitcoin. This level is considered a critical threshold, as a close below $107,200 could invalidate the current bullish outlook and expose the price to new lows [1]. Whale activity has also contributed to the market's resilience, with the exchange-to-whale ratio declining to one of the lowest levels in recent months. This suggests that large holders are not actively selling, as evidenced by the fact that prices have risen from $108,332 to above $110,100 without corresponding selling pressure [1].

Technical indicators further support a continuation of the recovery. On the daily chart, Bitcoin has formed a hidden bullish divergence, marked by a higher low in price while the RSI (Relative Strength Index) recorded a lower low. This pattern is often interpreted as a sign of potential continuation in the current trend [1]. The confluence of muted whale selling, strong derivative positioning, and the bullish divergence implies that the current recovery has room to expand. If bulls manage to break through resistance at $111,900, the next major target could be near $117,900, representing a 7% increase from current levels [1].

Bitcoin's performance remains influenced by broader macroeconomic factors, including the recent U.S. nonfarm payrolls report, which added 22,000 jobs—far below the expected 75,000. This data triggered a sharp reversal in Bitcoin's price and contributed to the formation of a bearish doji candle on Friday. The long upper wick and narrow body of this candle signal potential for a deeper correction [4]. Analysts have also highlighted the significance of the $100K level as a critical psychological and technical support zone. This level aligns with the 200-day exponential moving average and the 50% Fibonacci retracement, which could concentrate buy orders and stabilize the price [4].

Various market participants have offered bearish price predictions for Bitcoin in the event of a deeper correction. Legendary technical analyst Peter Brandt has identified a potential crash to $78,000 based on a 45-day head-and-shoulders pattern formation. James Butterfill from CoinShares anticipates a correction to $80,000 if there is disappointment surrounding crypto policy developments. Meanwhile, ITB Broker's analysis suggests a worst-case scenario in which the price could fall as low as $72,000–$75,000 if the $105,000 support level is breached [4]. However, most analysts emphasize that such corrections are often healthy for long-term growth, providing accumulation opportunities for investors [4].

Source:

[1] Bitcoin Price Recovery Holds Hidden Strength Above Key Levels (https://beincrypto.com/bitcoin-price-recovery-hidden-strength/)

[2] Bitcoin (BTC) Price Holds Strong Above Key Support Levels (https://thetradable.com/crypto/bitcoin-btc-price-holds-strong-above-key-support-levels-108k-104k-and-97k-ig--m)

[3] Bitcoin (BTC-USD) Holds $110K as ETF Flows, Fed Policy, and Profit-Taking Collide (https://www.tradingnews.com/news/bitcoin-price-forecast-holds-110k-usd)

[4] How Low Can Bitcoin Go in September 2025? Bearish BTC Price Prediction Scenarios & Support Analysis (https://www.financemagnates.com/trending/how-low-can-bitcoin-go-in-september-2025-bearish-btc-price-prediction-scenarios-support-analysis/)