Bitcoin has rebounded to $114,000 as traders watch a CME gap near $110,000. Analysts say holding $112,000 could lead to a rally.
Bitcoin traders entered the new week with a mix of optimism and carefulness.
The price of Bitcoin climbed to $114,000 during Monday’s Wall Street open, after recovering from last week’s dip.
Despite this bounce, market players are watching a new CME futures gap near $110,000, which many expect could draw the price lower before another leg up.
CME Gap Puts Pressure on Bitcoin Price
The rally to $114,000 came after a strong weekly close above $112,000 and coincided with new highs in gold prices. Yet traders continued to move with caution.
A CME futures gap opened near $110,000 over the weekend. Historically, Bitcoin has tended to “fill” such gaps by revisiting those price levels.
Crypto investor Ted Pillows noted on X that Bitcoin has filled every CME gap over the last four months. Others, like Nic Puckrin of Coin Bureau, said that closing the gap near $110,000 would help set up a cleaner move higher later this week.
$BTC now has a CME gap around the $110,000 level.
Bitcoin has filled every CME gap in the last 4 months, so this could most likely get filled.
Keep an eye on it. pic.twitter.com/fJYkFBGyzd
— Ted (@TedPillows) September 29, 2025
Data from CoinGlass also showed a cluster of bid liquidity around $111,000 that could attract sellers if prices retrace. Liquidity conditions are currently volatile, with more than $400 million in crypto liquidations recorded in 24 hours.
Bitcoin Needs to Hold $112K to Stay Bullish
Short-term traders are watching the $112,000 level as a major support. AlphaBTC, a market analyst, observed that BTC broke out of a downtrend after squeezing short positions.
He argued that maintaining support at $112,000 could allow a push toward $114,000 and possibly higher levels in October.
📈#Bitcoin LTF game plan 📈$BTC broke out of the down trend line over night after squeezing all the late shorts. Looking at the 114K level next, and then if it can hold 112K again for a push higher in Oct.#Crypto #BTC https://t.co/lLlsngwmUk pic.twitter.com/zX5q04K2gh
— AlphaBTC (@mark_cullen) September 29, 2025
Charts of liquidation levels show heavy ask orders between $112,350 and $114,000. This means that clearing these orders could provide a clearer path for prices to rally further.
A decisive break above $114,000 would stand as a change in market sentiment and could end the current corrective phase.
Uptober Narrative Gains Attention
The rally coincided with strength in US equity markets, where the S&P 500 and Nasdaq gained around 0.5% and 1% respectively. Gold also consolidated after reaching a new high of $3,831 per ounce.
QCP Capital noted that the market setup remains favourable for another “Uptober”. The firm noted that volatility levels are drifting lower as spot prices consolidate, especially with traders awaiting US Non-Farm Payrolls data later this week.
Despite questions about possible delays to the jobs report due to US government budget issues, QCP said overall sentiment remained buoyant, supported by gains on Wall Street.
Long-Term Analysts See Higher Price Targets
Some analysts argue that Bitcoin’s recent pullback, which saw it drop to $108,000 last week, is far from a cycle peak.
They point to historical patterns showing Bitcoin often lags behind gold by several months before resuming its uptrend.
Milk Road Macro pointed out a pattern in which gold broke out of a rising wedge earlier this year, and Bitcoin later followed with a similar move.
If this correlation holds, they expect a strong Bitcoin rally in October and November.
The analyst predicted that Bitcoin could outperform gold’s recent 10% gain by five to ten times, and implied a possible price range of $160,000 to $220,000.
