Bitcoin price today touched $116,181 before slipping back under $115K, showing heavy resistance at higher levels. Top Analyst Doctor Profit believes this quiet phase could be hiding bigger moves, with a possible test of $125K ahead.
With the Fed’s rate cut decision just around the corner, traders now wonder, will Bitcoin break out or face another sharp drop?
Bitcoin Faces Strong Resistance at $116,500
After testing resistance near $116,500, but failed, showing that this level is a strong barrier. According to Doctor Profit, many retail traders bought between $117,000 and $122,000, which means a lot of them are still stuck in losses.
Recent data from Coinglass shows $45 million in liquidations, with $34 million from longs and around $10 million from shorts
Despite stress in the market, panic selling hasn’t erupted yet. Doctor Profit explains that market makers understand this behavior, which is why they quietly sell in the $115,000–$125,000 range without making it too obvious.
$657M Longs at Risk if BTC Falls Below $114K
Looking ahead, the risk is clear. Meanwhile, Coinglass data shows Bitcoin saw $45 million liquidated, with $34 million from longs and $10 million from shorts. If BTC dips below $114,000, long liquidations could spike to $657 million.
On the flip side, a move above $116,000 could trigger $210 million in short liquidations, making this range a critical battleground.
Whales Dumping, ETF Flows Cooling
Beyond retail pressure, the real story lies with whales. Holders of 1,000–10,000 BTC have sold over $13 billion worth of Bitcoin in the past 30 days, dumping around 116,000 coins. This is the biggest wave of selling since July 2022, and it adds heavy supply pressure to the market.
Meanwhile, Bitcoin ETF inflows, which earlier drove strong demand, have slowed significantly, averaging just 500 BTC per day.
Even though September saw a one-day inflow of $642.4 million, the overall pace has weakened, making it harder for fresh capital to absorb whale selling.
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What Next For Bitcoin?
Right now, Bitcoin traders are keeping a close eye on the $115K level. Doctor Profit suggests booking profits above this point and staying cautious in the $115K–$125K zone. He points out that a lot of liquidity sits lower, between $106K and $90K, which could drag prices down if selling pressure builds.
Technically, Bitcoin has just broken out of a downtrend that dominated late August. If buyers step up and push the price above $116,750 with strength, the next targets could be $122,200 and then $124,500.
But if Bitcoin falls under $114,400, a drop toward $112,000 or even $108,250 becomes more likely.
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FAQs
Bitcoin is trading in a tight range, consolidating after a recent rally. It is currently holding above $115K, with analysts watching for a decisive move.
Experts anticipate continued volatility. Price predictions for September range from a low of $114K to a potential high of $125K, influenced heavily by Fed decisions and market dynamics.
While a breakout above $116,750 could push the price towards $124,500, a significant amount of selling pressure and cooling ETF inflows could create a barrier to new highs.
