Since dropping to a September low of $107,270, Bitcoin has rallied nearly 9%, though momentum has slowed as the price approached the $118,000 zone.

At the time of writing, the asset trades near $116,000.

1-hour BTC/USDT chart
1-hour BTC/USDT chart. Source: TradingView

Van de Poppe emphasized that heavy liquidity for long positions is concentrated around $118,000, calling it a decisive level for the next leg upward.

For now, market focus has shifted to the upcoming Federal Reserve meeting on September 17, where the central bank will announce its interest rate decision.

Another analyst, known as AlphaBTC, expects Bitcoin to retest $118,000 within the next 24 hours. However, he also warned of a likely pullback after the Fed’s update.

What could fuel further growth?

Spot Bitcoin ETFs and corporate treasuries are steadily adding BTC to their reserves, providing a supportive backdrop for price action. Over the last six trading days alone, these instruments brought in more than $2 billion.

“On September 10, U.S. spot Bitcoin ETFs saw net inflows of roughly 5,900 BTC — the largest single-day addition since mid-July. Weekly flows have returned to positive territory, signaling renewed demand,” noted Glassnode analysts.

Since the start of 2025, the combined Bitcoin holdings of public companies and ETFs have climbed 30%, from 2.24 million BTC to 2.88 million BTC.

Top 100 Public Bitcoin Treasury Companies
Source: BitcoinTreasuries.NET

Investor appetite for digital gold is further underscored by CoinShares data, showing that Bitcoin investment products attracted $2.4 billion in inflows just last week.

Earlier, FORECK.INFO reported on Arthur Hayes’ warning that unrealistic Bitcoin investors risk liquidation — a reminder that market discipline remains key even during rallies