The Most Critical Day and Level for Bitcoin Has Been Determined – Here’s What to Watch Out For

Cryptocurrency analysis firm CryptoQuant announced in its latest report that Bitcoin was trading above the $115,200 level following the FOMC meeting and 95% of the supply was in profit.

The report argued that maintaining this level is critical to maintaining upward momentum in the market, otherwise the price could retreat to the $105,500-$115,200 range.

Short positions were squeezed in the futures market ahead of the FOMC meeting, with perpetual-term open positions reaching 395,000 BTC before falling to 380,000 BTC. While short positions were liquidated before the meeting, the price pullback following the decision led to the liquidation of long positions.

A historic record was recorded in the options market. Open interest reached an unprecedented level of 500,000 BTC. It was stated that the September 26th expiration date would be the largest closing in history for the market, and it was noted that the $110,000 “maximum loss” level could have a significant impact on spot prices.

CryptoQuant also reported that volatility pricing in rose again ahead of the FOMC, while dealer positions signaled hedge flows that could both support market uptrends and buffer pullbacks. While spot markets experienced limited selling pressure, perpetual futures absorbed liquidity, creating a balanced outlook.

Ultimately, the report suggests that the Bitcoin market is in a delicate balance post-FOMC. While record open interest in the options market suggests that volatility may increase in the coming days, maintaining a level above $115,200 is considered a critical threshold for continued upward momentum.

*This is not investment advice.