Bitcoin (BTC) surged past $115,000 this week, sparking renewed optimism among traders and analysts who see the cryptocurrency on track for a potential rally toward $150,000.
This recovery comes amid rising derivatives activity, increasing institutional interest, and strong accumulation by large holders, signaling that Bitcoin’s market momentum is building despite broader macroeconomic uncertainty. Traders are closely watching key resistance and support levels to gauge the sustainability of this rally.
Bitcoin Reclaims $115K: Key Levels to Watch
Bitcoin (BTC) experienced a notable recovery this week, climbing above the $115,000 mark. Analysts highlight that sustaining this level is critical for BTC to maintain its upward momentum. According to data from Brave New Coin, Bitcoin is currently trading around $115,400, encountering resistance between $116,000 and $121,000.
Bitcoin (BTC) was trading at around $115,367, up 0.83% in the last 24 hours at press time. Source: Bitcoin Price via Brave New Coin
Technical and on-chain indicators suggest that the cryptocurrency is “advancing on firmer footing,” according to market intelligence firm Glassnode. The volume delta bias, which measures the imbalance between buying and selling pressure, indicates a reduction in selling pressure across exchanges like Binance and Bybit. This rebound from $108,000 highlights the role of futures traders in absorbing recent sell-offs, reinforcing BTC’s recovery.
Technical Indicators and Market Sentiment
Bitcoin’s recovery is supported by several bullish technical signals. During Friday’s session, BTC peaked at $116,500 before easing slightly to $115,400. The cryptocurrency has broken through key daily exponential moving averages, including the 20-, 50-, and 100-day levels, strengthening its technical foundation for further gains.
Bitcoin’s Wave B may retest $117K before the next move. Source: MASCryptoAna on TradingView
Despite this, market sentiment remains mixed. The global Fear and Greed Index currently sits at neutral, showing a divergence between market psychology and BTC’s price trajectory. Derivatives data shows open interest climbing to $42 billion, suggesting that new positions are being established. However, the long-to-short ratio has dipped below 2.0, indicating that short positions are increasing relative to longs, which could limit near-term upside.
Institutional Accumulation Supports Price
Key holders or Bitcoin “sharks” are exhibiting aggressive belief in the future of BTC. These wallets, holding 100-1,000 BTC balances, contributed another 65,000 BTC over the last week and increased their combined holdings to a record 3.65 million BTC. This action is evidence of continued structural demand and provides a bullish counterbalance to muted retail sentiment.
Technically, the four-hour chart shows a bullish crossover as the 50-day exponential moving average also crossed above the 100-day EMA to form a golden cross. Analysts take this as a short-term positive sign that BTC can reach $117,500 in the coming weeks. Support levels are now at $113,000, which serves as a buffer against a potential pullback.
Analyst Forecast: Targeting $150K
Technical analysts and traders are increasingly optimistic about Bitcoin’s potential to reach new highs. Analyst Kamran Asghar commented that BTC is showing clear signs of moving toward $150K, supported by an optimistic chart outlook.
Bitcoin eyes $150K Momentum builds as charts signal a strong upward trajectory. Source: @Karman_1s via X
The forecast considers key support levels at $91,181 and $82,375, aligning with recent data from Binance showing a +4.18% price increase over 24 hours as of September 12, 2025. Although some warnings, like those from TradingView, alert of potential “fake breakouts,” consistent institutional investor demand and bullish derivative positioning support a good scenario.
Worldwide progress, such as BlackRock’s entry into tokenized ETFs on the blockchain, can further enhance the price stability of BTC. These are moves that can promote institutional investment and introduce further confidence in the long-term future of Bitcoin, despite the inherent volatility of cryptocurrency.
Final Thoughts
Bitcoin’s rally back above $115,000, along with robust derivatives trading and enormous scale purchasing, shows a potential rally back to $150,000. Caution is required because of the volatility of the market, but analysts agree that BTC’s technical setup and institutional demand provide favorable situations for further gains.
Bitcoin holds the weekly open and pushes toward the monthly open, a key pivot for trend direction—caution advised for long positions. Source: @KillaXBT via X
As ever, traders must watch out for key support levels at $113,000 and $114,500, and also the zone of supply around $116,000-$121,000, to see if Bitcoin can maintain its upward momentum.