CryptoQuant’s Axel Adler Jr: Bitcoin Faces $112K Resistance and $113K Max-Pain Ahead of Oct 3 Expiry

CryptoQuant analyst Axel Adler Jr. summarized recent Bitcoin price action, noting that long positions deleveraged as the funding rate cooled and ETF inflows and stablecoin activity remained muted. BTC failed to sustain a move above $115,000, retreated through $114,000 to a low near $108,600, and has since traded in a narrow, low-volume band around $108,800–$109,800, leaving a persistent lower-high structure intact.

Technically, key resistance lies at $111,000–$112,000; clearing and holding this zone could renew buyer momentum toward $114,000–$115,400. Immediate support is seen at $108,600–$109,000 to preserve a neutral bias, while a breach risks accelerating downside toward the $106,000–$105,000 range.

Sentiment is assessed as neutral-to-slightly bearish absent a sustained break above $112,000. Options metrics place BTC’s maximum pain near $113,000 with an expiry of October 3, 2025; bullish option interest skews toward $120,000–$126,000, with weaker strike support at $108,000–$111,000, implying potential mean reversion around $113,000 into expiry.