The cryptocurrency market has had an excellent week, with Bitcoin (BTC) rebounding from a low of $114,000 to trade above $117,000. The positive performance is largely attributed to favorable macroeconomic conditions, specifically the Federal Reserve's rate cut on Wednesday. Analysts believe this move will inject more liquidity into the crypto market, potentially pushing prices higher.
According to the article, "cheaper money" tends to drive quotes higher, and as long as liquidity remains strong, the crypto market is expected to perform well. The rally is seen as a stepping stone towards new all-time highs for Bitcoin, which could also benefit other cryptocurrencies, especially with the anticipated approval of new altcoin ETFs.
The technical analysis of Bitcoin's 4-hour chart appears bullish. BTC's price surged past its 50-day Exponential Moving Average (EMA) on September 10 and found strong support around the $116,000 level. Although it has been consolidating around $117,000 for the past 24 hours, indicators like the Relative Strength Index (RSI) at 57 and a bullish crossover on the Moving Average Convergence Divergence (MACD) suggest that bulls remain in control.
If the current momentum continues, Bitcoin could target the psychological level of $120,000, with a potential extended rally to $125,000, which would set a new all-time high. However, the article cautions that a market correction could see BTC fall below the $116,000 support, potentially dropping toward the $113,924 level.
September 2025, Cryptoniteuae