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Reading: Bitcoin price hikes above $112k, could BTC rally?
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Finances Investing and Crypto News > Blog > Crypto > Bitcoin > Bitcoin price hikes above $112k, could BTC rally?
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Bitcoin price hikes above $112k, could BTC rally?

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Last updated: 24/09/2025 4:52 Chiều
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Published 24/09/2025
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Bitcoin price managed to make its way above the $112,000 threshold, holding slightly below $113,000. After dropping below $110,000 amidst a sharp decline due to liquidations, is there still hope for a rally?

Summary

  • Bitcoin remains stable at the $112,000 mark, however it needs to climb above $114,000 to shoot up into the rally.
  • Matrixport found that the resistance zone currently sits at $109,000. This means that BTC must remain above that level so that it doesn’t slip further down.

Bitcoin price took a massive hit when mass liquidations wiped out a large chunk of its market cap, losing nearly $110 billion. The $1.5 billion liquidation that sent shockwaves across the crypto market dragged the price of BTC to as low as $111,998 before dropping lower within the following days.

According to on-chain analysis firm Matrixport, this Bitcoin (BTC) cycle is unlike any the market has witnessed before. Instead of having one or two bull markets caught within the broader trend, the analysis firm stated that there are now three ongoing bull markets driving the current climb-up.

The last time multiple bull markets were running simultaneously under the same uptrend occurred during the 2020 to 2021 rally. Though, at the time, there were only two bull markets that stood within the broader trend that drove Bitcoin prices up.

Matrixport claims that traders should keep a close watch on the 21-week moving average line, which would serve as the border line between the bull and bear markets.

“That level currently sits at $109,899. As long as Bitcoin holds above it, the bull market remains intact – but slipping below could mark the beginning of a far trickier phase,” wrote Matrixport in its latest analysis.

Bitcoin price analysis

Bitcoin price experienced a sharp decline from $117,000 towards the $112,000 level. The drop coincided with the mass liquidation event that triggered heavy selling pressure. After bottoming out at just above $111,000, the price has tried to stabilize, but momentum remains fragile.

The 30-period moving average is currently hovering around $112,524, acting as both a short-term resistance and a key indicator of whether BTC can regain strength in the short-term period. The failure to hold above $114,000 earlier suggests that sellers still dominate in the near term.

At press time, the Relative Strength Index has managed to rebound from oversold conditions below 30, now climbing back toward the neutral zone around 51. This recovery indicates that bearish momentum has cooled, and buyers are cautiously stepping back in.

Bitcoin price chart depicting a slow rise that could lead to a rally | Source: TradingView
Bitcoin price chart depicting a slow rise that could lead to a rally | Source: TradingView

However, the RSI is not showing strong bullish divergence, which means traders are still lacking in conviction. If the RSI can break sustainably above 60, it would be an early signal of a potential rally forming.

For Bitcoin to mount a meaningful rally, it would need to breakthrough the $114,000 to $115,000 resistance zone, which coincides with the area where the previous breakdown occurred. A decisive breakout above this level could lead to the asset retesting the $117,000 zone.

If Bitcoin price fails to reclaim $114,000 soon, consolidation between $111,000 and $113,000 could continue. This could lead to a further drawback in the cycle, with the asset slipping lower. Based on Matrixport’s latest analysis, BTC would need to hold strong above $109,899 if it wants to stay above bearish waters.

Bitcoin has room for a short-term relief rally, but the broader outlook hinges on whether buyers can surpass the $114,000 level into support. Until then, momentum favors cautious optimism rather than a confirmed bullish reversal. If market conditions improve and BTC sustains above its moving average.

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