Bitcoin price today is testing the $117.5k local resistance after intraday gains, but downside risk remains; a drop below the critical $115.2k support could trigger a deeper pullback toward $105.5k amid options expiry and institutional flows.
BTC tests $117.5k resistance after modest gains
Exchange Supply Ratio decline indicates reduced sell-side liquidity and increased HODLing
Options open interest near 500k BTC and short squeeze dynamics raise volatility ahead of expiry
Bitcoin price today tests $117.5k resistance; watch $115.2k support. Read analysis, risks, and key levels — stay updated with COINOTAG reporting.
What is driving the Bitcoin price today?
Bitcoin price today is driven by a mix of macro liquidity flows, positioning around the FOMC outcome, and derivatives activity. Short-term buying offset prior selling, but options expiries and institutional profit-taking create asymmetric downside risk near $115.2k.
‘,
‘
🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!
‘,
‘
📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!
‘
];
var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();
How strong is the current BTC resistance at $117.5k?
BTC has challenged the local resistance at $117.5k twice in quick succession with limited follow-through. Orderbook data and liquidation heatmaps show concentrated pain zones; the long-side max pain near $112.7k and short-side near $121.6k imply squeezes can amplify moves.
Frequently Asked Questions
Why is BTC’s price up today?
Short-term inflows and a post-FOMC relief rally lifted BTC intraday. Cumulative Volume Delta (CVD) in perpetual markets moved from extreme selling toward balance, reflecting returning buy-side liquidity.
Can Bitcoin establish an uptrend soon?
Possible but uncertain. Historical seasonality in September and liquidity clustered below $115.2k make a sustained bullish breakout less likely without broader risk-on flows into crypto.
Detailed Market Analysis
On 18 September, Bitcoin posted a 0.54% daily gain and approached the $117.5k resistance. The following day it re-tested the same level but failed to clear it decisively. Derivatives metrics show elevated options open interest (~500k BTC) ahead of expiry, which can intensify intraday volatility.
‘,
‘
🔒 Secure and Fast Transactions
Diversify your investments with a wide range of coins. Join now!
‘,
‘
💎 The Easiest Way to Invest in Crypto
Dont wait to get started. Click now and discover the advantages!
‘
];
var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();
Glassnode (analytics firm) highlighted the importance of the $115.2k support for bulls; a breach could drain liquidity and open a path toward $105.5k. CryptoQuant data showed the Exchange Supply Ratio declined to 0.02911 after the Fed signaled a rate cut, suggesting fewer coins available on exchanges and increased HODLing behavior.
Perpetuals Cumulative Volume Delta (CVD) shifted from heavy selling to a more balanced state leading up to the FOMC, indicating buy-side flows neutralized earlier selling pressure. This left speculators positioned for a favorable policy outcome but also exposed them to reversal risk if liquidity rotates away from risk assets.
Sources referenced in reporting: Glassnode, CryptoQuant, COINOTAG. These sources are cited as plain text only.
‘
];
var adplace = document.getElementById(“ads-htx”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexHtx”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesHtx.length) : sessperindex;
adplace.innerHTML = adscodesHtx[adsindex];
sessperindex = adsindex === adscodesHtx.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexHtx”, sessperindex);
}
})();
Source: https://en.coinotag.com/bitcoin-could-test-117-5k-resistance-but-may-face-risk-of-dip-below-115-2k/