Key Points:

• Bitcoin is expected to rebound, aiming for a significant target of $116,000, with liquidation levels appearing both above and below this price.

• Anticipate BTC price support remaining steady above $110,000.

• ETF inflows may provide a glimpse into market sentiment, according to recent analysis.

Bitcoin (BTC) edged closer to $116,000 after the markets opened on Monday, as buyers were keen on capturing sales liquidity.

BTC Prices and Major Liquidity Levels

Current data from Cointelegraph Markets Pro and TradingView indicates that BTC/USD was at $115,732 on BitStamp.

With traditional financial markets reopening, the gains from the weekend persisted, and traders remained optimistic about a further rise in BTC values.

“Now that the daily CME gap has been filled, Bitcoin has wrapped up this phase and is attempting to recover earlier highs,” I shared on my social media. The term “price magnet” refers to the gap in Bitcoin futures from the CME Group.

“The starting point is around ~116K, where the recently filled daily CME gap lies.”

An analysis of liquidity from exchange order books showed that prices were being anchored at approximately $115,800.

“If BTC can surpass $115,850, that suggests that the $112,000 region might act as a bottom,” popular trader BigMike7335 noted, sharing a chart displaying key short-term Fibonacci levels.

The support was concentrated around $113,800 to $112,000, but that previous all-time high approached just shy of $110,000.

“In a more unlikely scenario: if the price dips first, expect a rebound close to $110.5K,” someone summarized earlier today.

Focus on Bitcoin ETF and Market Trends

In discussions about whether it’s a good time to buy the dip with Bitcoin, QCP Capital expressed a positive outlook.

Related: Is BTC headed back to $75K? Five things to keep in mind about Bitcoin this week

“Bitcoin’s July monthly results were the highest on record, and the recent pullbacks seem more corrective than catastrophic,” stated an update for Telegram subscribers.

“Historically, after rallies, shakeouts like this, particularly those erasing excess leverage, prepare the ground for renewed accumulation.”

Coinglass indicated that Bitcoin futures open interest has dipped to its lowest since July 10 over the weekend.

QCP suggested that net flows in the US Spot Bitcoin Exchange Fund (ETF) on Monday might offer a “signal” of market interest.

As reported earlier, this was highlighted on Friday with a notable $812 million in inflows, marking one of the largest daily records.

“We remain cautiously optimistic. The spot level around $112K suggests the need for careful observation, especially given ongoing macroeconomic uncertainty.”

“However, indicators of stabilization like fresh spot ETF inflows, reduced implied volatilities, and narrowed spreads represent positive signals for a resurgence in institutional interest.”

This article does not provide investment advice or recommendations. Any trading or investment carries risks, and it’s advisable for readers to conduct their own thorough research before making decisions.