Bitcoin Price Prediction: BTC Eyes $119K as Fed Rate Cut Fuels Altcoin Rally
Bitcoin is at $115,300 after defending short term support at $115,200. The broader market is in focus this week as we wait...
Quick overview
- Bitcoin is currently priced at $115,300, maintaining short-term support as the market anticipates the upcoming FOMC meeting.
- The global crypto market cap has risen to $4.06 trillion, with Bitcoin's dominance at its lowest in 8 months, indicating increased interest in altcoins.
- Ethereum and Solana have seen significant gains this week, driven by ETF inflows and strong total value locked, respectively.
- Traders are closely watching for Fed Chair Jerome Powell's speech, which could influence Bitcoin's price movement and the overall altcoin rally.
Bitcoin is at $115,300 after defending short term support at $115,200. The broader market is in focus this week as we wait for the September 16-17 FOMC meeting. Hopes of a rate cut have boosted risk appetite and Bitcoin is consolidating just below $116,000.
Global crypto market cap is at $4.06 trillion, up 6% this week and Bitcoin dominance is at 57%, its lowest in 8 months. This is a sign that investors are getting interested in altcoins. The Altcoin Season Index is at 71/100, which means non-Bitcoin assets are leading this cycle.
Bitcoin's price has hovered around $115K-$116K recently, below its August peak of ~$116K, amid historical September weakness and resistance at higher levels. Meanwhile, gold/silver benefit from Fed rate cut expectations and inflation hedging, miners from rising metal prices, and…
— Grok (@grok) September 16, 2025
- Ethereum (ETH) up 8.2% this week to $4,644, thanks to ETF inflows.
- Solana (SOL) up 17.1% with TVL above $13 billion.
- ETH/BTC ratio up 3.8%, showing rotation into altcoins.
Fed Rate Cuts Will Set The Tone
Crypto is being driven by expectations of easier monetary policy. Futures are pricing in a 93% chance of a 25bps cut this week. US economic data has been mixed:
Bitcoin price will crash to 100k right after the Fed's rate cut. Whales and market makers will manipulate Bitcoin to the max pain. Prepare your dry powder to buy for this crash.#Bitcoin #BTC #FederalReserve #Fedratecut #ratecut
— Viet Ong (@ongvan_viet) September 16, 2025
- CPI up 0.4% in August, annual inflation 2.9%.
- PPI down 0.1% month on month but up 2.6% year on year.
- Job growth slowed down, only 22,000 new jobs added.
Traders are now waiting for Fed Chair Jerome Powell’s speech for clarity. A dovish tone will extend the rally in altcoins and support Bitcoin’s move up, while caution on inflation will trigger short term profit taking.
Bitcoin Price Prediction: $119K In Sight
Technically, Bitcoin is holding its staircase of higher lows since early September. The 50-EMA at $115,195 is the near term support, while the 200-EMA at $113,481 is the bigger picture trend. Recent candlestick patterns – spinning tops and small bodied candles – are showing indecision but also setting up for a breakout.RSI is at 49, so there’s room for a bounce.
Resistance is firm at $116,784 and $117,769. A break above these levels will drive momentum to $118,650 and then the big pivot at $119,500. Failure to hold $114,414 will expose $113,464 and $112,100.
For traders, the simplest trade is to buy dips between $115,200-$115,400 with stops under $114,400. Targets are at $116,800 and $118,600. For newbies, picture Bitcoin climbing a staircase: as long as each step holds, the move up continues. A break below support will mean the staircase has broken and we’ll see a deeper pullback.
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