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Bitcoin reached its highest price in a month, climbing to approximately $118,000 on September 18, 2025. The rally followed the Federal Reserve’s decision to cut interest rates by 25 basis points.
The world’s largest cryptocurrency is currently trading around $117,000, representing a 1% daily gain. Federal Reserve Chair Jerome Powell’s dovish comments about slowing job growth and rising unemployment helped fuel the crypto market surge.
Bitcoin’s intraday action has remained tight between $116,000 and $118,000. Trading volumes increased compared to the previous week as institutional interest grew.
On-chain data reveals traders are opening new long positions. This buying pressure could help Bitcoin break through current resistance levels toward $120,000.
Crypto analyst Michael van de Poppe identified $119,000 as the critical resistance Bitcoin must overcome. A successful break above this level could target $123,700 in the near term.
The more important part; will $BTC break through this crucial resistance zone?
All I'm sure about is that, once #Bitcoin stabilizes, we'll start to see big breakouts on #Altcoins occur. pic.twitter.com/7PdiM99SId
— Michaël van de Poppe (@CryptoMichNL) September 18, 2025
Fellow analyst Ali Martinez highlighted $115,440 as a key support base using pricing band analysis. Holding above this level could enable a rally toward $137,300.
$115,440 is the most important support level for Bitcoin $BTC, according to the Pricing Bands.
– Hold it, and $137,300 is next.
– Lose it, and $93,600 comes into play. pic.twitter.com/zVWLnPKKtd
— Ali (@ali_charts) September 18, 2025
Downside scenarios present different targets. Support exists at $114,700 and $111,900 where buyers might step in during any pullbacks.
If Bitcoin fails to hold the $115,000 zone, prices could decline toward $110,000 or test the $100,000 psychological level. This range represents a critical area for bulls to defend.
Spot Bitcoin ETFs recorded net inflows throughout September. These institutional purchases provided strong support in the $115,000-$120,000 range.
On September 18 (ET), Ethereum spot ETFs recorded a total net inflow of $213 million, with none of the nine ETFs seeing net outflows. Bitcoin spot ETFs saw a total net inflow of $163 million, with all twelve ETFs also reporting no net outflows.https://t.co/Tvs2oCS03I pic.twitter.com/lwaV9iOcHr
— Wu Blockchain (@WuBlockchain) September 19, 2025
Exchange data shows major withdrawals from centralized platforms. This reduces available supply for immediate trading and creates upward pressure on prices.
Open interest in Bitcoin futures climbed steadily. This indicates traders are opening new positions rather than closing existing ones, showing confidence in continued upward movement.
Daily trading volume jumped 41% to over $67 billion. The cumulative volume delta moved higher, demonstrating consistent buying pressure from market participants.
Short liquidations reached $232 million across the broader crypto market. This forced covering added momentum to the rally as leveraged bears were squeezed out.
The broader cryptocurrency market benefited from Bitcoin’s strength. Major altcoins including XRP, BNB, SOL, ADA, and DOGE posted gains exceeding 5% following the Fed announcement.
Current market conditions support a bullish outlook for Bitcoin in the near term. The combination of reduced exchange supply, institutional ETF demand, and dovish Federal Reserve policy creates favorable conditions for higher prices.
Key resistance at $119,000 represents the immediate challenge. Breaking above this level could unlock targets at $123,700 and potentially $137,300 based on technical analysis.
However, traders should monitor the $115,000 support zone closely. A break below this level could trigger profit-taking and lead to a test of lower support areas around $110,000-$100,000.
The cryptocurrency’s correlation with traditional markets and historical patterns following Fed rate cuts suggest continued upside potential as institutional adoption grows.
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TLDR Ethereum surged over 2% above $4,600 following the Federal Reserve’s 25 basis point rate…
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