Gold

Key points:
<ul>
 <li>Bitcoin returns to $112,000 as bulls stage a key resistance retest.</li>
 <li>BTC price action preserves the “bull market support channel” in a classic dip to support.</li>
 <li>Gold hits new all-time highs as perspectives on Bitcoin praise its status as a macro hedge.</li>
</ul>
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/bitcoin-price">BTC</a>) tapped $112,500 after Wednesday’s Wall Street open as traders slowly flipped bullish on BTC price action.
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/0199105c-387b-7d2a-9c89-8db07adf51ad" title="">
 <figcaption style="text-align: center;">
 BTC/USD one-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="btc-price-punishes-shorts-with-112-000-rebound">BTC price punishes shorts with $112,000 rebound</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*enpnlb*_ga*MTE3NDE3MjgzMC4xNzE1NjcwODE1*_ga_53R24TEEB1*MTc0NDcyNDI2NS40MS4xLjE3NDQ3MjQyNjkuNTYuMC45MTY3MzAwMzI." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP" rel="noopener noreferrer nofollow" target="_blank">TradingView</a> showed BTC/USD attempting to win back key support levels.
These included $112,000 itself, which formed the bottom of a large patch of ask liquidity on exchange order books.
Data from <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMap?coin=BTC&amp;type=symbol" rel="noopener noreferrer nofollow" target="_blank">CoinGlass</a> showed price taking out a chunk of that liquidity on the day, with the remainder extending to $114,000.
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/0199105a-1a92-7441-97e6-a44e6e572c58" title="">
 <figcaption style="text-align: center;">
 BTC liquidation heatmap. Source: CoinGlass
 </figcaption>
</figure>
Commenting, popular trader CrypNuevo highlighted the key support battles currently in play.
“This looks like an attempt to reclaim Support 1, which would lead to a move back inside the range,” part of an <a href="https://x.com/CrypNuevo/status/1963226047995920823" rel="noopener noreferrer nofollow" target="_blank">X post</a> explained.
CrypNuevo noted that there were just two weeks left until a potential bullish risk-asset catalyst entered — an <a href="https://cointelegraph.com/news/crypto-com-ceo-bets-fed-rate-cut-fuel-crypto-markets-in-q4" rel="noopener noreferrer nofollow">interest-rate cut</a> by the US Federal Reserve on Sept. 17.
The post described this week’s local lows at $107,270 as a “false move,” while fellow trader BitBull flagged a classic bounce at support.
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/01991056-fc7c-7b79-90e8-43ded5773c9a" title="">
 <figcaption style="text-align: center;">
 BTC/USDT one-day chart. Source: CrypNuevo/X
 </figcaption>
</figure>
“$BTC perfectly bounced back from its bull market support band,” he <a href="https://x.com/AkaBull_/status/1963185164429017320" rel="noopener noreferrer nofollow" target="https://x.com/AkaBull_/status/1963185164429017320">told</a> X followers, referring to a channel formed by two moving averages.&nbsp;
<blockquote>
 “This is a sign that bulls are still in control.”
</blockquote>
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/01991057-6ccb-7235-96e9-2a9fa563e940" title="">
 <figcaption style="text-align: center;">
 BTC/USDT one-week chart with bull market support channel. Source: BitBull/X
 </figcaption>
</figure>
As <a href="https://cointelegraph.com/news/bitcoin-price-stages-2-week-downtrend-breakout-with-112k-next-target" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, many market participants remain bearish across multiple time frames, seeing a retest of $100,000 <a href="https://cointelegraph.com/news/bitcoin-bulls-charge-at-112k-gold-hits-fresh-all-time-highs" rel="noopener noreferrer nofollow">as soon as this week</a>.
<h2 id="bitcoin-bull-case-boosted-as-gold-beats-record-highs">Bitcoin bull case boosted as gold beats record highs</h2>
Regarding macro volatility, trading company QCP Capital saw the odds in Bitcoin’s favor going forward.
Related: <a href="https://cointelegraph.com/news/btc-vs-very-bearish-gold-breakout-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow">BTC vs. 'very bearish' gold breakout: 5 things to know in Bitcoin this week</a>
“Two cuts this year look reasonable, but keep an eye on breakevens, as new tariffs could push expectations higher,” it summarized in its latest “<a href="https://www.qcpgroup.com/insights/asia-colour-153/" rel="noopener noreferrer nofollow" target="_blank">Asia Color</a>” market update.&nbsp;
<blockquote>
 “With policy uncertainty lingering, a softer US dollar is more likely so long as global growth holds up. Gold and BTC remain straightforward hedges in this backdrop.”
</blockquote>
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/01991057-fad8-7037-8f1d-967491a831cb" title="">
 <figcaption style="text-align: center;">
 Fed target rate probability shifts for September FOMC meeting. Source: CME Group
 </figcaption>
</figure>
Data from CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow" target="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch Tool</a> confirms that market expectations of an interest-rate cut in September are now over 95%.
Gold made fresh all-time highs on Wednesday, hitting $3,567 per ounce.
<figure>
 <img alt="Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis" src="https://s3.cointelegraph.com/uploads/2025-09/01991058-c314-734f-8868-be74679c1177" title="">
 <figcaption style="text-align: center;">
 XAU/USD one-day chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
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.

Bitcoin bulls ‘still in control’ as BTC price passes $112K — Analysis

Table of Contents

Cointelegraph

Other articles published on Sep 3, 2025

Join our free newsletter for daily crypto updates!