Key takeaways:
Bitcoin’s price remains subdued after a drop of over 4% within hours.
Liquidity is showing signs of recovery, with short-term volatility becoming more likely as a result.
BTC price forecasts indicate a potential local bottom at around $114,000.
Bitcoin (BTC) faced challenges in reclaiming $122,000 on Wednesday as market participants anticipated new BTC price fluctuations.
Bitcoin navigates sideways after all-time high decline
Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD consolidating following a sudden 4.2% decrease the day before.
This correction was largely anticipated due to consecutive all-time highs without significant upward momentum.
As reported by Cointelegraph, a rapid increase in open interest (OI) within derivatives markets heightened concerns that Bitcoin might retrace a portion of its recent gains.
“The price action has been very effective, which explains the low volatility to this point,” trader Skew remarked in an X post on Tuesday as the correction emerged.
Skew later indicated that large-volume traders were displaying “predatory” tactics in exchange order books.
Obvious PvP -> Predatory trading ongoing on Binance market for $BTC
spoofing the ask above current price
spoofing the bid below current price on perpsWhat’s the aim of this predatory behavior?
To lift price temporarily via perps & then push market lower by…— Skew Δ (@52kskew) October 7, 2025
However, liquidity started to return to the market overnight, with data from CoinGlass showing an increase in both bid-side and ask-side liquidity at the time of this writing.
Skew suggested a potential “consolidation range” may emerge.
BTC price support targets $114,000 again
Others evaluated potential levels for a reliable local floor, cautioning that this could be notably beneath the current spot price.
Related: BTC’s October breakout odds are low: 5 things to know about Bitcoin this week
“Little support exists between $121K–$120K, allowing the price to move quickly if selling accelerates,” trader ZYN reported on X.
“Just below that, around $117K, nearly 190K BTC were last acquired. That’s a significant cluster of recent buyers.”
ZYN utilized the cost basis of recent investors to predict potential demand zones for price support.
“If we see a pullback into that range, it’s typically where strong buyers step in to defend their positions, with new capital entering the market. In summary: weak support at $121K, but a solid floor forming around $117K,” he concluded.
Using its proprietary trading signals, trading resource Material Indicators highlighted $120,000 support but indicated that a stronger rebound foundation is at $114,000, near Bitcoin’s 50-day simple moving average (SMA).
For crypto trader, analyst, and entrepreneur Michaël van de Poppe, the next buy zone extends to $118,000.
“Bitcoin achieved a new all-time high, often prompting profit-taking among investors,” he noted.
“A minor pullback puts us on the verge of my desired buying area.”
This article does not provide investment advice or recommendations. Every investment and trading decision carries risk, and readers should do their own research before making a decision.
