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Key points:
Bitcoin fails to close above $117,200, opening the door to support retests.
A giant $4.9 trillion options expiry event adds further friction for Bitcoin bulls on Friday.
Order-book liquidity shows bids massing at $110,000 and above, creating a “magnet” for price.
Bitcoin (BTC) missed a key daily close into Friday as traders expected short-term BTC price losses.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Bitcoin adds headwinds after daily close miss
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD narrowly avoided a daily close above $117,200.
This had been one of the key lines in the sand on short timeframes — a reclaim would allow price to revisit $120,000, analysis said.
#BTC
Bitcoin is on the cusp of printing a Daily Close inside the Range to kickstart the reclaim process
Bitcoin is one Daily Close above ~$117.2k away from preparing for a revisit of ~$120k+$BTC #Crypto #Bitcoin https://t.co/AMROY2kutn pic.twitter.com/EFi4CJTpOB
— Rekt Capital (@rektcapital) September 18, 2025
“Once we gain this level the way to $120K is open in my opinion,” popular trader Crypto Caesar wrote Thursday in part of an X post on the topic alongside an explanatory chart.
“However: Last time we rejected this level and came all the way back to the light blue zone.”BTC/USDT one-day chart. Source: Crypto Caesar/X
Crypto investor and entrepreneur Ted Pillows predicted downward BTC price pressure continuing through the week’s options expiry event.
“$BTC failed to reclaim the $117,200 level again. Today, $4.9 trillion in US stock futures and options will expire,” he told X followers.
“Historically, this has resulted in downside volatility and consolidation in the stock market. And because the crypto market follows US stocks, volatility will shift into Bitcoin and alts too. Be prepared.”BTC/USDT one-day chart. Source: Ted PIllows/X
Trader bids create $113,000 BTC price “magnet”
Other arguments in favor of lower levels focused on exchange order-book liquidity.
Related: Bitcoin price $150K target comes as analyst sees weeks to all-time highs
Updating X followers, trading resource TheKingfisher noted that most liquidity now lies below the price. The area between $110,000 and $113,000 was of particular interest.
Here’s the deal, most traders are still guessing. But look at this Kingfisher heatmap for $BTC.
See those dense zones around 110k and 113k? Those are long liq zones. Price is magnets to these levels, flushing out overleveraged positions.
Above current price, there are thin,… pic.twitter.com/JDYSeUFDbg
— TheKingfisher (@kingfisher_btc) September 19, 2025
Onchain analytics platform Glassnode agreed, noting shifts in order-book composition after Wednesday’s Federal Reserve meeting.
There, the Federal Open Market Committee (FOMC) lowered interest rates for the first time in 2025, leading to new all-time highs for both gold and US stock markets.
“Post FOMC, we can see that $BTC shorts at 117k were taken out, and long liquidations are appearing at 112.7k,” Glassnode summarized.
BTC liquidation heatmap. Source: Glassnode/X
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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