Bitcoin Price Bounces Back Above $115K
Bitcoin (BTC) saw a 1.5% uptick on Friday, reclaiming the $115,000 mark after a volatile week. Onchain data suggests that momentum is firming, though traders are eyeing critical resistance overhead.
The recovery has sparked cautious optimism, but BTC must defend $115,000 to sustain the bounce. Analysts emphasize that holding this level could solidify confidence among both retail and institutional investors.
Derivatives Drive Market Sentiment
Weak spot demand and slowing ETF inflows have shifted the spotlight to derivatives markets. Futures volume delta bias shows that buyers absorbed recent sell pressure, signaling reduced bearish dominance.
Options open interest hit a record $54.6 billion, up 26% since September 1, reflecting rising institutional activity. Analysts view derivatives as the current backbone of BTC’s momentum despite weaker spot demand.
Options Market Shows Bullish Tilt
Data highlights a clear bias toward calls over puts, suggesting the market leans bullish while still hedging risks. Glassnode notes that futures and options now reflect a healthier balance than in past overheated rallies. Analysts believe Friday’s $4.3B options expiry could open the door to $120,000 if BTC holds above $113,000. This indicates traders are willing to bet on upside while cautiously protecting against volatility.
Recommended Article: Bitcoin: Is It Hitting All-Time Highs Again?
Resistance Zones Ahead for BTC
BTC/USD faces immediate resistance at $116,000, with a major supply zone extending to $121,000. Breaking through this band is essential for Bitcoin to target fresh all-time highs near $124,500. Traders warn that bears are likely to defend these levels aggressively. Sustained buying pressure will be required to breach these zones and push BTC higher.
Key Support Levels to Monitor
On the downside, support lies around $114,500, where the 50-day SMA sits, and further down at $112,200 near the 100-day SMA. Additional safety nets stretch from $110,000 to the September low of $107,200. A failure to hold $115,000 could bring these lower levels back into play. Bulls will need to step in quickly if the price slips toward these supports.
Trader Insights on Pivot Points
Trader KillaXBT flagged $115,700—the August monthly open—as a crucial pivot for BTC trend direction. Any deviation above this range could trigger short squeezes, with liquidity clusters between $116,400 and $117,000 acting as catalysts for rapid moves. Such levels are being closely watched as signals for the next decisive breakout.
Liquidation Heatmap Highlights Risk Zones
CoinGlass data shows heavy bid orders at $114,700 and deeper clusters between $113,500 and $112,000. If bears take control, these zones could absorb selling pressure. Conversely, a break above $117,000 may force shorts to cover, propelling BTC toward $120,000. This makes the $116K–$117K band a potential launchpad for the next leg higher.
