Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Over the past week, the Bitcoin market experienced significant volatile price action, resulting in a net price loss of 0.07%. Notably, the crypto market leader initially surged to $118,000 as bullish sentiments rose after the US Federal Reserve announced the first interest rate cut of 2025.
However, Bitcoin has since retraced to around $115,700 in the past 24 hours, as transaction activity cooled off. In studying the asset’s price structure, a popular market analyst with the X username KillaXBT has highlighted two important price levels.
Bitcoin’s Weekly Open Faces Pressure Amid Daily Imbalance Threat
In an X post on September 19, KillaXBT shares a vital cautionary insight on the present Bitcoin market, identifying two support zones in danger. Notably, as of the latest session, BTC has retested its weekly open at $115,219, a level that has served as a key pivot point for both bulls and bears.
Holding above this threshold would be a strong sign of strength, while a decisive move lower could tilt market sentiment bearish. However, there is also a heavy focus on a daily fair value gap extending down to $113,355, highlighted on the charts as an area of imbalance left behind by rapid price action.
KillaXBT explains that losing the weekly open would likely trigger a price decline to $113,355 because such inefficiencies eventually get filled, as price retraces into the zone to rebalance order flow. However, there is also the presence of the previous wick low at $114,367, which currently sits just above the FVG zone. This intermediate support may act as a buffer before any deeper probe toward the $113,355 mark.
According to KillaXBT, Bitcoin price holding above the weekly open and FVG price zone is critical for price action going into the next week. A successful price defence at these levels could result in a reclaim of $118,000 claim and potentially the present ATH at $124,000. Meanwhile, a decisive price fall below $113,355 would expose the premier cryptocurrency to downside targets around $112,000, $110,000, and $108,000.
Bitcoin Price Overview
At the time of writing, Bitcoin is trading at $115,700, reflecting a 0.98% decline in the past day. Meanwhile, the trading volume is down by 17.14% and valued at around $35.8 billion. Despite a market cap of $2.3 trillion, Bitcoin’s dominance now stands at 57.1% indicating an ongoing outperformance by altcoins as the altseason potentially commences.
Featured image from Pexels, chart from Tradingview
Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.
Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.
In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.
In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.
Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.
Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.
Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.
Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.
Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.
He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.
In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.
His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.
Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
