Bitcoin May Avoid $118K Correction as BTC Futures Market Regains Footing
The post Bitcoin May Avoid $118K Correction as BTC Futures Market Regains Footing appeared on BitcoinEthereumNews.com.
Key takeaways: BTC price may drop to the $118,000-$120,000 range before resuming its uptrend, analysts say. Bitcoin futures open interest fell by $4.1 billion from its peak, potentially indicating a “healthy” reset. Bitcoin (BTC) was down 3.7% from its $126,000 all-time high and may revisit the $118,000 level over the next few days, but data suggested that prolonged trading below that level could be short-lived. Bitcoin could drop to $118,000 first Bitcoin price was trading at $121,300 on Friday, after posting moderate losses over the past 24 hours, data from Cointelegraph Markets Pro and TradingView showed. While the macro setup remains bullish, analysts agree that the BTC/USD pair could first drop toward $118,000-$120,000 before resuming its uptrend. Related: Bitcoin Mayer Multiple: BTC price can hit $180K before being ‘overbought’ “Here we go with the shakeouts to both sides,” said analyst Stockmoney Lizards, adding that such price action is normal after Bitcoin hits new all-time highs. “This flush should end soon, around $118,000-$119,000, then higher,” the analyst added. BTC/USD four-hour chart. Source: Stockmoney Lizards “It seems like $BTC wants to retest the $118,000-$120,000 support level,” fellow analyst Ted Pillows said in a Friday post on X. The analyst noted that strong bids are present on exchanges at this level, suggesting that the BTC/USD pair may potentially drop toward it. “After that, a rally is expected if buyers step in.” BTC/USD daily chart. Source: Ted Pillows Meanwhile, Glassnode’s Cost Basis Distribution Heatmap highlighted support near $117,000, where about 190,000 BTC were last acquired. MN Capital founder Michael van de Poppe had a different view, arguing that Bitcoin has already had its correction following its flash drop to $119,700 during the late New York trading session on Thursday. “It’s ready to continue toward new all-time highs.” Similarly, AlphaBTC stated that the price has…
Filed under: News - @ October 11, 2025 2:23 am