Bitcoin’s upward momentum shows no signs of slowing as analysts suggest that the cryptocurrency’s current bull cycle has much further to run. A combination of technical factors, liquidity flows and broader macroeconomic conditions have strengthened the case for new all-time highs well beyond the $124,000 mark.
Resistance Weakening at $113K
Bitcoin climbed back above $114,000 on Wednesday, helped by favourable US macroeconomic tailwinds. More importantly, market observers noted that a crucial resistance level around $113,000 appears to be weakening.
BTC/USD one-day chart. Source: Rekt Capital/X
Popular trader and analyst Rekt Capital highlighted that each rejection at $113,000 has triggered increasingly shallow pullbacks, signalling waning selling pressure. He explained to his followers on X that after weeks of struggling, Bitcoin finally closed a daily candle above its local downtrend line on September 2, marking a decisive break from nearly two months of downward price action.
Longer Cycles, Higher Peaks
While some analysts had warned that Bitcoin’s dip below $108,000 could mark the start of a prolonged correction, Rekt Capital dismissed suggestions that the bull run is over. He argued that if Bitcoin had already peaked, it would imply this bull cycle was the shortest on record, a scenario he considers highly unlikely.
“Cycles are getting slightly longer rather than shorter,” he noted, implying that Bitcoin still has significant upside potential. This perspective has reinforced bullish sentiment that the $124,000 mark is not the top, but rather a milestone on the way to new price discovery.
Liquidity Signals a Short Squeeze
Beyond technical resistance levels, order-book liquidity is also pointing to potential near-term volatility. Market commentator TheKingfisher observed that the majority of liquidity now sits above Bitcoin’s spot price, raising the possibility of a short squeeze as traders scramble to cover bearish bets.
🚨 $BTC: This liquidation map shows a clear setup. Most of the action is above current price, meaning *short liquidations* are stacked.
Look at 112,631.54. That’s a huge cluster for shorts to get flushed. We’re looking at an optical opti timeframe here, so this plays out over a… pic.twitter.com/CpuEUacDF0
— TheKingfisher (@kingfisher_btc) September 10, 2025
Liquidity clusters often act as magnets for price movement, and with order flow heavily concentrated overhead, Bitcoin could see accelerated upward pressure in the coming sessions. This aligns with recent behaviour, where liquidity-driven breakouts have consistently shaped short-term rallies.
SMA and Whale Flow Define Next Hurdles
Keith Alan, co-founder of Material Indicators, highlighted another key technical barrier at the 50-day simple moving average (SMA), currently around $114,700. Positioned close to the psychological $115,000 level, this SMA may serve as the next resistance zone for Bitcoin bulls.
BTC/USDT order-book liquidity data with whale orders. Source: Material Indicators/X
According to Alan, the recent rally has unfolded predictably, guided by dynamic liquidity placements and whale-class order flow. Large-scale investors have been instrumental in shaping market structure, with liquidity moves hinting at further upside potential.
Outlook: Path Toward Price Discovery
With resistance at $113,000 weakening, liquidity favouring upward momentum, and cycle analysis pointing to an extended bull phase, Bitcoin looks poised for further gains. While short-term hurdles remain at the $114,700–$115,000 range, analysts argue that the broader picture supports a return to price discovery territory.
If cycles are indeed lengthening, as Rekt Capital suggests, then Bitcoin’s path to fresh all-time highs may not only remain intact but could also surpass expectations, with $124,000 acting as a stepping stone rather than the final destination.
