Bitcoin (BTC) Price Prediction: Bitcoin Reclaims $112K Support—$117K Next Stop?

Bitcoin price today is showing signs of renewed strength, with BTC reclaiming the critical $112,000 support level after a volatile session.

Traders are watching closely, debating whether the cryptocurrency can maintain its momentum and target $117,000 in the near term.

Market Overview: BTC Holds Key Support

Bitcoin (BTC) surged to local highs of $112,646 on Bitstamp, recovering from multi-week lows near $109,500. This rebound comes as BTC reclaimed its 100-day exponential moving average (EMA-100) at $110,850, a level widely viewed as a technical floor.

BTC reclaims its EMA-100, stabilizing the market and setting sights on a potential rally toward $116K–$117K. Source: BitBull via X

“$BTC has reclaimed its EMA-100 level,” noted popular trader BitBull on X. “This has been very crucial for bottom formation. If BTC holds this level, I wouldn’t be surprised to see a rally toward $116K-$117K.”

Meanwhile, trader Roman, who has expressed caution toward the current bull market, warned that $112K support is pivotal. “If 112K is lost, the next support sits at $102K. A double-top pattern seems to be forming,” he explained.

The relative strength index (RSI) is hovering around 54, indicating that BTC has room to climb before reaching overbought territory. Moving averages further support the bullish bias, with BTC trading above both the 20-EMA ($111,200) and 50-EMA ($110,600).

Whale Accumulation and Institutional Interest

On-chain data points to growing institutional involvement. BTC has historically rebounded from key trendlines, such as the floor established since Q3 2023. The April 2025 episode, where BTC briefly dipped below this trendline before quickly reclaiming it, coincided with MicroStrategy’s $1.5 billion Bitcoin purchase, highlighting institutional support.

BTC rests on a key support trendline, historically a rebound point, hinting at a potential pre-ATH surge. Source: @TedPillows via X

More recently, a post by @TedPillows noting BTC testing its critical support trendline garnered significant attention, reflecting the market’s focus on this juncture. Analysts suggest that renewed institutional accumulation, combined with potential crypto-friendly SEC regulations, could set the stage for another upward move.

However, macroeconomic factors, such as a surprise 0.5% ECB interest rate hike, introduce volatility and may influence BTC’s near-term trajectory.

Technical Analysis: Breakout Levels in Focus

For bulls, the immediate challenge is maintaining $112K support. A sustained breakout could open the path toward $117K, with further upside toward $120K possible if momentum continues. Conversely, a breakdown below $112K could trigger a correction toward $102K, while a deeper slide may test the $90K zone.

BTC’s current pullback mirrors past patterns, likely to be shorter and shallower before rallying to new highs. Source: @rektcapital via X

Rekt Capital, a prominent analyst, highlighted historical patterns, noting that Bitcoin’s current pullback resembles previous bull market corrections, suggesting that this phase could be shorter and shallower than past cycles.

Trend Factors: Halving, Regulatory Optimism, and Market Sentiment

Market participants are also factoring in Bitcoin halving 2025, which historically fuels bullish sentiment leading into the event. Additionally, rumors of a leaked SEC draft supporting crypto-friendly rules could trigger capitulation among weak hands, clearing the way for a potential all-time high (ATH).

Traders remain divided: some expect BTC to continue its bull cycle, while others urge caution, noting that failure to hold critical support may spark a sharper retracement.

Expert Insights: BTC as an Inflation Hedge

Beyond technical considerations, analysts continue to view Bitcoin as a potential inflation hedge. With institutional adoption increasing, BTC’s profile as a digital asset resistant to traditional market pressures strengthens.

Bitcoin adoption is accelerating globally, making another bear market unlikely for several years. Source: @DavidFBailey via X

David Bailey, a Bitcoin advisor, highlighted that another Bitcoin bear market is unlikely to occur for several years, citing the increasing institutionalization of the asset and the growing role of BTC in investment portfolios.

Conclusion: BTC Next Move

Bitcoin currently trades at around $112,213, up by over $3,000 from the intraday lows. The short-term view depends on whether BTC holds above the $112K support level. Successful defense will push BTC to continue rallying towards $117K and beyond, or breakdowns will have lower levels coming into the picture.

Bitcoin (BTC) was trading at around $112,574, up 2.19% in the last 24 hours at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

With September approaching, investors are acutely sensitive to technical analysis, whale activity, and macroeconomic events. BTC’s direction in the coming weeks could determine if it will return to a bullish trend or go into consolidation.