Key points:
Bitcoin revisits $113,000 before Tuesday’s Wall Street open amid talk of a new gold copycat move.
That level becomes a recommendation for long entries, but not everyone is bullish.
Liquidity conditions show a $115,000 short squeeze in the making.
Bitcoin (BTC) returned to $113,000 on Tuesday as traders’ BTC price perspectives began to change.
BTC price rebound lacks “strong spot demand”
Data from Cointelegraph Markets Pro and TradingView showed new local highs of $113,279 into the Wall Street open.
BTC/USD built on a higher low from the weekend, which preserved $110,000 as support.
Now, market participants saw the potential for bulls to make a more sustained assault on overhead resistance.
“There we go,” crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in a response on X.
Van de Poppe noted that Bitcoin had reclaimed the 20-day simple moving average (SMA) near $111,500, and had also won back the key $112,000 mark.
“Gold is printing strong new ATHs --> $BTC likely following,” he continued, referencing Bitcoin’s habit of following breakouts on XAU/USD with a slight delay.
Fellow trader Crypto Tony, meanwhile, described $113,000 as a suitable entry point.
“Above $113,000 is a long position on the daily,” he confirmed to X followers.
Others were cautious, among them crypto investor and entrepreneur Ted Pillows, who flagged a lack of spot-market interest as a reason to doubt the sustainability of the current local uptrend.
$BTC current rally is mostly perps driven.
— Ted (@TedPillows) September 9, 2025
OI is up, and the funding rate is up, while the Coinbase premium is still neutral.
Until strong spot demand arrives, the rally won't be sustainable. pic.twitter.com/ydlSTODT8x
Bitcoin liquidity flush “always a possibility”
Meanwhile, a look at crypto exchange order-book liquidity shows a thick line of asks immediately above the price, extending to $114,500.
Related: BTC dip predictions fall below $90K: 5 things to know in Bitcoin this week
This caught the attention of some traders, who suspected that the resistance patch might be a deliberate ploy to influence price trajectory.
What the heck is this? $BTC pic.twitter.com/inHeXNGLFx
— Crypto Seth (@seth_fin) September 9, 2025
“$BTC is knocking on the door of a high-leverage short position zone,” crypto investor and data analyst CW commented.
Overnight, trading resource Material Indicators forecast that the zone below $115,000 may provide “some friction” for the Bitcoin bulls.
Despite this, it argued, macroeconomic tailwinds — specifically in the form of the US Federal Reserve cutting interest rates next week — should provide a “return to the highs.”
“Don’t let that fool you into thinking that there can’t be another flush to support because that’s ALWAYS a possibility,” it cautioned.
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.