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What Does Bitcoin’s Approach to a $113,300 Fair Value Gap Mean for Investors?
In recent bitcoin news, the cryptocurrency market has witnessed notable volatility over the past week, culminating in a minor price loss of 0.07%. Initially, Bitcoin surged to an impressive $118,000, fueled by bullish sentiment following the U.S. Federal Reserve’s announcement of its first interest rate cut of 2025. However, this optimism was short-lived, as Bitcoin retraced to approximately $115,700 within the last 24 hours amid a decline in transaction activity.
Market analysts have been closely monitoring Bitcoin’s price structure, with a prominent analyst known as KillaXBT emphasizing two critical price levels that investors should watch. The first significant level is the weekly open at $115,219, which has become a pivotal point for both bullish and bearish traders. Sustaining a position above this threshold could indicate strength in the market, while a decisive drop below it might shift sentiment toward the bearish side.
Adding to the complexity, KillaXBT also highlighted a daily fair value gap (FVG) extending down to $113,355, which is perceived as an area of imbalance resulting from rapid price movements. This gap could serve as a potential target if the weekly open fails to hold. According to KillaXBT, the loss of this key level would likely lead to a price decline toward the $113,355 mark, as market inefficiencies typically get filled, with prices retracing to rebalance order flow.
Investors should also note the previous wick low of $114,367, which lies just above the FVG zone. This intermediate support may act as a buffer against a deeper decline toward $113,355. However, it is crucial that Bitcoin maintains its position above both the weekly open and the fair value gap to foster positive price action heading into the following week.
If Bitcoin can defend these critical levels effectively, it may pave the way for a reclamation of the $118,000 mark, and potentially even the all-time high (ATH) of $124,000. Conversely, a decisive fall below the FVG would expose Bitcoin to further downside targets around $112,000, $110,000, and even $108,000.
At the time of writing, Bitcoin is trading at $115,700, reflecting a 0.98% decline over the past day. Additionally, the trading volume has decreased by 17.14%, now valued at approximately $35.8 billion. Despite a robust market cap of $2.3 trillion, Bitcoin’s dominance has shifted to 57.1%, indicating a growing outperformance of altcoins as the market appears to be entering an altseason.
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In summary, the current price action surrounding Bitcoin is critical for investors to understand as it approaches significant support zones. Whether the cryptocurrency can maintain its footing above these vital levels could dictate its trajectory in the coming weeks, making it essential for traders and investors to remain vigilant.
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