The Bitcoin price has recently shown a modest recovery, reclaiming the $115,000 level. Market conditions suggest that momentum is building, mainly driven by activity in the derivatives markets. However, there are still hurdles ahead for further gains, both in terms of technical resistance and key support zones to watch.

What happened to the BTC price?

Bitcoin has risen by about 1.5% over the past 24 hours, breaking back above the $115,000 mark. This rebound gives investors fresh hope that the recent correction may have been only temporary. Still, an immediate challenge lies ahead: the next resistance zone is located between $116,000 and $121,000. A breakout above this level could pave the way for a stronger upward move.

On the downside, it is important to closely monitor support levels. $114,500, $113,000, and $112,000 serve as crucial safety nets. If these zones hold, they could provide the foundation for further gains. If they break, however, the risk of a deeper correction rises quickly.

Analysis: what should investors look out for?

Resistance above
The price is struggling around $116,000 – a zone where many sellers may step in. To continue higher, Bitcoin must break through and hold above this area.

Support below
If the price pulls back, $114,500 and $113,000 are key levels to defend. If these supports fail, the price could fall further toward $110,000 or even the $107,200 area.

Derivatives market takes the lead

Dynamics in the derivatives markets are particularly striking. Options open interest has reached a record high of around $54.6 billion. This indicates that significant capital is flowing into the market, not only from retail investors but also from professional players positioning themselves for potential major price moves.

This shows that derivatives – such as futures and options – are currently setting the pace. While spot trading volumes remain relatively modest, these products are driving additional volatility and direction in price development. It highlights how institutional activity is increasingly becoming the driving force behind Bitcoin‘s price swings. The fact that options open interest (OI) has hit a record high points to more than just speculation; many market participants are anticipating further moves. Futures and options often help absorb price shocks when selling pressure emerges.

The spot market, however, appears less dominant. At the moment, we see that the spot market (regular buying/selling) is not showing full strength; much of the momentum is coming through derivatives. This means that price movements are currently more strongly influenced by sentiment and speculation in the derivatives markets.

What does this mean for the coming weeks?

If Bitcoin manages to stay above $115,000 and break resistance near $116,000, levels toward $120,000 may come into reach. On the cautious side, if the price fails to hold $115,000, the mentioned support zones could help limit the downside. The coming weeks will therefore largely revolve around whether Bitcoin can remain above $115,000 and break through the $116,000 resistance. These zones are likely to determine the next direction of the trend.

Disclaimer: This is not financial advice. Always do your own research and consider seeking professional advice before making investment decisions.