Bitcoin Faces Resistance at $113,400–$117,100; ETF Flows and Profit-Taking May Keep Price Below $120,000 Despite Fed Dovish Signals

Market commentary from COINOTAG on September 8 highlights that a softer US jobs print has shifted expectations toward a more dovish Federal Reserve, a dynamic that typically buoyed Bitcoin and other risk assets. Analysts note the market has already priced in a degree of easing, while institutional investors are engaging in profit-taking and ETF flows remain relatively steady. Key resistance levels to monitor are $113,400, $115,400 and $117,100, breaches of which would suggest absorption of recent selling pressure and a potential retest of prior highs.

Kronos Research CIO Vincent Liu cautioned that prospective rate cuts could reflect a weakening economy; persistent inflation and conservative risk sentiment may restrain asset appreciation. Absent meaningful expansion in liquidity or a material uptick in ETF inflows, clearing the $120,000 threshold for BTC appears a significant hurdle rather than an imminent outcome.