Bitcoin to test all-time high ‘quickly’ if bulls reclaim $118K: Trader

William Suberg 2 minutes ago Bitcoin to test all-time high ‘quickly’ if bulls reclaim $118K: Trader Bitcoin has a new key resistance zone to flip back to support as Fed rate-cut reactions continue to play out in crypto bulls' favor Listen 0:00 28 Market Update COINTELEGRAPH IN YOUR SOCIAL FEED Key points: Bitcoin bulls are busy flipping key levels back to support — can they crack $118,000 next? New all-time highs are on the horizon if the Fed reaction uptrend continues. Exchange traders are already bringing in large lines of liquidity either side of price. Bitcoin ( BTC ) sought to flip $117,000 to support on Thursday as the Federal Reserve interest-rate cut boosted crypto markets. BTC/USD one-hour chart. Source: Cointelegraph/TradingView Watch these Bitcoin price levels next, say traders Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining up to 1.3% after the daily close. Volatility hit as the US Federal Reserve announced its first rate cut of 2025 , coming in at 0.25% to match market expectations. After a brief dip below $115,000, Bitcoin rebounded, liquidating both long and short positions to the tune of over $100 million over 24 hours. $BTC update: FOMC Price Action nailed 🔨 Boring Monday and Tuesday; Wednesday volatile with the classic retrace of an initial false move. $105M liquidated in 30mins during FOMC, that's what it's important to be aware of this. Absolutely love this market. Probably $120k next. https://t.co/azE7Fg6J10 pic.twitter.com/x3EPCmIlOx — CrypNuevo 🔨 (@CrypNuevo) September 17, 2025 Among traders, hopes were high that bulls would cement support and continue on to challenge all-time highs. “The more important part; will $BTC break through this crucial resistance zone?” crypto trader, analyst and entrepreneur Michaël van de Poppe queried in a post on X. An accompanying chart showed the bulls’ next battle at $118,000. “All I’m sure about is that, once Bitcoin stabilizes, we’ll start to see big breakouts on Altcoins occur,” he added. BTC/USDT one-day chart with RSI, volume data. Source: Michaël van de Poppe/X Popular trader Daan Crypto Trades agreed on the significance of the $118,000 mark. During dovish comments by Fed Chair Jerome Powell at the Jackson Hole symposium in August, that level formed a local top as BTC price action strengthened. “$BTC The $118K level is important as it is the high volume node within this range. Meaning most volume traded at this price level,” he noted on X. The post concluded that BTC/USD would “quickly visit” all-time highs should $118,000 flip to support. BTC/USDT perpetual contract one-day with volume data. Source: Daan Crypto Trades/X Liquidity builds with BTC price wedged A look at exchange order-book data showed thickening liquidity on either side of the spot price on Thursday. Related: Bitcoin price gains 8% as September 2025 on track for best in 13 years After the initial Fed shake-out, traders returned to put up “guardrails,” keeping price pinned within the corridor between them. Data from CoinGlass thus put $116,500 and $119,000 as the key levels to watch for on the day. BTC liquidation heatmap (screenshot). Source: CoinGlass This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. # Bitcoin # Bitcoin Price # Markets # Market Analysis Add reaction