Key Points:
Bitcoin is hovering around $115,000 as a crucial macroeconomic week approaches, nearing the close of this week.
Analysts state that Bitcoin needs to close above $114,000 for the week to maintain a "bullish" outlook.
The market widely expects the Federal Reserve to cut interest rates next week.
Bitcoin (BTC) fluctuated near its lows over the weekend, and as Sunday’s close approaches, cryptocurrencies and risk assets are entering a critical week.
Data from Cointelegraph Markets Pro and TradingView shows that the BTC/USD price is probing $115,000.
The trading pair did not experience significant volatility after the last Wall Street trading session of the week, during which it briefly touched $116,800, marking a new high since August 23.
Notable trader Skew posted on the X platform, stating, "It’s clear that the price has been pushed down again as we enter a new week."
He also noted that there is considerable buy order depth and liquidity below $115,000 on the exchange order book.
He concluded, "It’s time to pay attention."
Market participants remain calm about short-term trends, with well-known trader and analyst Rekt Capital adopting a gradual approach.
In his latest post on the X platform, he stated, "In the short term, Bitcoin's target is not to break $117,000."
Rekt Capital believes that Bitcoin will reach new highs in this bull market, asserting that it is unlikely for Bitcoin to peak at $124,500.
He added that if the weekly close can remain above $114,000, it would be a "bullish" signal.
Next week, the main focus of the market will be the Federal Reserve's interest rate decision.
Cointelegraph reports that the market generally believes policymakers will cut rates by at least 25 basis points. Overall, U.S. macroeconomic data has performed well, further reinforcing this expectation.
In the latest market update on September 11, trading firm Mosaic Asset Company expressed an optimistic outlook for the fourth quarter and the future of risk assets.
The author stated, "Leading indicators continue to improve, the financial environment remains accommodative, and cyclical industries are broadly participating, all of which contribute to sustained economic expansion."
Related: Stablecoin market cap reaches $300 billion on CoinMarketCap—why are there discrepancies in data across platforms?
Original: “Bitcoin Trader Says: 'It's Time to Pay Attention to the $115K BTC Price'”
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