Bitcoin heads into the weekly close with $114,000 on the radar, as late-week momentum loses steam. Ether continues to command attention after setting fresh all-time highs, with on-chain data suggesting whales are rotating out of BTC into ETH. Over the weekend, price action stayed relatively muted following Friday’s sharp rally that briefly pushed Bitcoin near $117,500. The surge was fueled by remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole economic symposium, where he signaled that interest-rate cuts could resume as early as September — a move that reignited market optimism.
At the time of writing, BTC was trading at $113,522.
After making an all-time high of $124,474, BTC witnessed some profit booking, and the price corrected by almost 11%, dropping to $110,680. On a weekly time frame, the asset has formed a ‘Shooting Star’ candle, where the longer upper shadow indicates selling at higher levels. Currently, BTC is consolidating and trading within a range of $110,000 to $120,000. The asset has strong support at $110,000 and $100,000, whereas $125,000 will act as a strong resistance level. To rally further, BTC must break, close, and sustain above $125,000.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $100,000 | $110,000 | BTC | $125,000 | $145,000 |
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