Traders say "it's time to pay attention" to Bitcoin's price of $115,000.

Bitcoin recorded a low price over the weekend as it entered the weekly closing session on Sunday, ahead of a week expected to be highly volatile for the crypto market and risk assets.

BTC price chart | Source: Bitcoin Magazine## "It's time to pay attention" to Bitcoin's price

According to data from Bitcoin Magazine, the price of BTC has dropped to nearly $115,000. It has avoided significant volatility following the last trading session of the week on Wall Street, where it reached a high of $116,800 since August 23.

Famous trader Skew commented: "It is clear that the price is being adjusted down once again as we enter a new week," in a post on platform X.

Skew also noted that "there is a decent order depth and liquidity just below the $115K level" on the order books of the exchanges.

"It is time to pay attention," he concluded.

15-minute chart of BTC/USDT with order book data | Source: Skew/XMeanwhile, market participants remain cautious about short-term prospects. Well-known trader and analyst Rekt Capital has taken a step-by-step approach.

"The goal is not for Bitcoin to break the $117k level in the short term. The goal is for Bitcoin to regain the $114k level to establish support. This will facilitate the necessary buying to push the price above $117k in the future," he explained in his latest post on X.

Rekt Capital is one of the few who is not optimistic about the ability to reach a new all-time high in the current bull market, arguing that Bitcoin cannot have peaked at $124,500.

A weekly closing above $114,000 will be considered "positive," he added that day.

The market focuses on the Fed's decision to cut interest rates

The main highlight in the coming week will be the decision on interest rates by the U.S. Federal Reserve. As Bitcoin Magazine has reported, the market widely predicts that policymakers will implement a rate cut of at least 0.25%. Positive macro data from the U.S. has reinforced this confidence.

In the recent market update on September 11, Mosaic Asset Company expressed optimism about the prospects of risk assets in Q4 and the following months.

"I believe that the combination of leading indicators improving, loose financial conditions, and strong participation from cyclical industries will support a continuous economic expansion," the author wrote.

"This will support profit outlook, which will ultimately benefit stock prices while the Federal Reserve (Fed) is expected to continue cutting interest rates. This could create a favorable trading environment next year."

The probability of the Fed's target interest rate at the September FOMC meeting | Source: CME Group's FedWatch tool

Mr. Giáo