The $116k resistance presents a hurdle to traders despite bullish price action.
BTC is still trading below the $116k resistance
The crypto market opened the new week bearish but is now on its path to recovery as Bitcoin and other major cryptocurrencies are recording gains. Bitcoin dropped to the $114k level on Monday, with altcoins recording bigger losses.
However, BTC has slightly recovered and is now trading above $115k, with the $116k resistance still in play. The stagnated price action comes ahead of a crucial FOMC meeting tomorrow.
Analysts are expecting a rate cut of at least 25 basis points, with some predicting a 50 basis point cut. Polymarket odds of this cut have jumped to over 90%, while the CME Fed Monitor tool has the probability at 95%. A Fed rate cut will favour cryptocurrencies such as Bitcoin, with the leading cryptocurrency likely to target its all-time high price once again.
BTC eyes $120k ahead of FOMC
The BTC/USD 4-hour chart remains bullish and efficient despite Monday’s dip. The technical indicators have improved over the last few hours, with all eyes now on tomorrow’s expected Fed rate cut.
The RSI of 55 shows that buyers are still in control, with the MACD lines also within the bullish territory. If the $116k resistance level is surpassed, BTC could quickly rally towards the $120k psychological level over the next few hours or days. An extended bullish run would allow it to target the all-time high price above $125k.
However, failure to surpass the $116k resistance level could see BTC face further correction to the downside. This could see the cryptocurrency retest the TLQ and support level at $113,479. This support level will likely hold as the next support level is around $110.
Avalanche (AVAX) price is in the green on Tuesday morning, with bulls hovering above the critical level of $30.
Most cryptocurrencies trade at key levels amid the broader market’s anticipation around the Federal Reserve’s meeting and interest rate decision.
Institutional interest also continues to grow, with Bitwise filing for an Avalanche spot exchange-traded fund with the US Securities and Exchange Commission.
Avalanche price eyes breakout above $30
While small-cap tokens like Avantis skyrocket to lead top gainers on the day, the Avalanche (AVAX) price hovers green. It currently trades as one of the top gainers among the top 20 cryptocurrencies.
The altcoin traded around $30.50 as of writing on September 16, up 7% in the past 24 hours and an impressive +18% over the last seven days.
It’s a performance that outpaces the global cryptocurrency market’s 1% gain and sees bulls close to the resistance line of a channel breakout.
Trading volume has spiked to $1.18 billion, up by more than 27% in the last day to signal buying pressure.
From a technical point of view, chart patterns suggest that AVAX is on the cusp of a significant channel breakout.
While the token has largely consolidated within a descending parallel channel, a recent uptick has bulls looking at a potential corrective pattern that could allow for a retest of $44.
Avalanche has notably breached the critical $27 horizontal resistance level. Holding above this level and piercing the $30 barrier may allow bulls to break above the channel’s upper boundary.
The Relative Strength Index (RSI) at 64 indicates room for gains before overbought conditions hit. A bullish outlook is also supported by the Moving Average Convergence/Divergence (MACD) on the daily chart.
Overall, the chart structure positions AVAX favorably for a move above $30, potentially fueled by ecosystem expansions and DeFi growth.
Bitwise AVAX ETF filing and Fed decision
Compounding the technical optimism are recent regulatory and macroeconomic trends.
One of these is the development that saw Bitwise Asset Management file an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot Avalanche ETF.
This filing, following the establishment of a statutory trust in Delaware, proposes direct exposure to AVAX through custody-held tokens, allowing investors to gain regulated access without managing wallets or private keys.
VanEck and Grayscale are among the top issuers seeking approval for ETFs tracking the AVAX cryptocurrency. Sentiment is high amid anticipation of an SEC nod in the coming months.
Also buoying AVAX price is expectation around the Federal Reserve’s upcoming decision on interest rates.
The Fed meets this week and a 25 basis point cut could inject fresh liquidity into risk assets like cryptocurrencies. Avalanche’s price will rally alongside other altcoins.
Bitcoin stalls near $116K as Fed’s policy decision draws focus.
Major altcoins trade sideways amid low volumes and uncertainty.
Velora (VLR) and Project Merlin (MRLN) set to redefine DeFi ecosystems.
Bitcoin is once again testing the nerves of crypto market participants as its price hovers near $1,16,000, battling a stubborn resistance just as the global spotlight turns to the US Federal Reserve’s mid-September policy meeting.
In the early hours of September 16, Bitcoin traded at $1,15,200, trimming modest overnight gains amid lower trading volumes and a cautious risk mood.
The benchmark cryptocurrency’s market cap stands at a robust $2.29 trillion, with 24-hour volumes just over $52 billion, evidence that, while enthusiasm has tempered, the appetite for digital gold remains very much alive.
The shadow of the Fed’s upcoming decision has left broader markets listless, and crypto is no exception. Investors remain on high alert for clues around possible rate adjustments after a string of resilient US inflation data.
Any shift in policy or surprise rhetoric could produce short, sharp moves across all risk assets, with Bitcoin particularly sensitive given its recent struggle to clear the $1,16,000 threshold.
Bullish momentum still elusive
Ethereum, the second-largest digital asset by market cap, followed suit, changing hands at $4,522.
Ether has struggled to regain bullish momentum since its recent spike to $4,609 and is now trading in a narrow band with tepid demand from larger holders.
Despite a record high in stablecoin activity on its chain last week, ETH appears tethered to macro narratives, quietly mirroring Bitcoin’s cautious trajectory.
XRP, meanwhile, steadied at $2.99 after pulling back from recent local highs.
Recent treasury movements from notable digital asset management firms have steadied sentiment but haven’t sparked breakout momentum, as regulatory debates around the token continue to play out in key jurisdictions.
Solana is also in the spotlight, with its price down slightly to $233.67 following last week’s rally.
The token, known for its fast and low-cost transaction capabilities, has seen volatility creep back in, as short-term traders wade in to capture swings on the back of the broader market’s uncertainty.
Technical analysts note the next major support levels sit close to $220, underscoring the need for positive catalysts to maintain current valuations.
Dogecoin, always the wildcard, is trading at $0.2677 after a 24-hour spell that saw the meme coin flirt with both $0.26 support and $0.28 resistance.
While DOGE’s narrative is often ruled by social media and celebrity hype, the current environment has left even seasoned “shibes” trading cautiously, awaiting clearer signals from both the Fed and broader risk markets.
With key resistance levels drawing closer across major coins, market eyes will remain glued to the outcome of the Fed meeting.
Until then, expect crypto prices to oscillate around their current bands, with Bitcoin eyeing that crucial $1,16,000 break as the catalyst for renewed bullish conviction or yet another test of market resolve.
New launches fuel crypto buzz
Several major crypto launches and ecosystem upgrades are about to shake up the market, promising to unleash a new spark of trading action.
On Tuesday, all eyes are on Velora (VLR) and Project Merlin (MRLN) as they make their much-anticipated debuts.
Velora’s launch signals a push into the next generation of DeFi, with its $VLR token powering intent-based cross-chain trading and unlocking gasless staking and community rewards.
Meanwhile, Project Merlin steps onto the scene offering an all-in-one Web3 ecosystem that connects blockchain entrepreneurs, communities, and investors, complete with a robust launchpad, crowdfunding, and freelance ecosystem, all tied together by the $MRLN token and launching with airdrops across major exchanges.
These releases are more than just hype; they reflect how the industry is charging ahead with technical innovation and shifting toward tailored, ecosystem-first infrastructure.
But it’s not just token launches grabbing investor attention. On the regulatory front, Hong Kong just locked in fresh banking capital guidelines for digital assets, set to take effect in January 2026.
The big shift? Banks are facing a 1:1 capital provision for any exposure to “permissionless” blockchains.
The move is expected to bolster confidence for institutional players looking for a safer entry into crypto markets.
Added to that, Ripple is making headlines via a new partnership in Japan that brings its RLUSD stablecoin further into the nation’s payments rails, underscoring digital assets’ climb toward mainstream financial integration.
Fed rate cut hopes fuel optimism for a powerful Q4 Bitcoin price rally.
Whales, ETFs, and PayPal integration boost institutional demand.
Analysts see BTC hitting $140K–$200K this year, with $250K possible if flows persist.
Bitcoin is once again at a crossroads. After touching an all-time high of $124,128 in August, the price of the world’s largest cryptocurrency has pulled back to trade just below $115,000.
But the pullback has done little to dampen enthusiasm.
With a Federal Reserve interest rate cut now widely expected, optimism is building that Bitcoin could be gearing up for its next explosive leg higher, possibly toward $200,000 and beyond.
Over the recent days, the price has been stuck in a narrow band between $114,000 and $116,000 for the past week.
Market analysis hints at $115,000 being a critical resistance level that will shape the next major move.
According to analysts at CoinLore, if Bitcoin clears $116,000 and holds above $117,500, it could unlock a rally toward the $122,000–$130,000 range in the short term and $135,000 or even $140,000 in the long term.
Fed decision looms large
Notably, the immediate catalyst for a BTC price breakout could come as soon as September 17, when the Fed is expected to cut interest rates.
Lower borrowing costs generally boost liquidity and favour risk assets such as crypto.
Sean Dawson, head of research at Derive, in a note to investors, told investors that the market is “only halfway through what could be a very powerful Q4 rally.”
He predicts Bitcoin’s price could reach $140,000 by year-end, with $200,000 as a conservative cycle peak if institutional flows continue.
Options data supports this bullish trend with Deribit showing heavy open interest clustered between $140,000 and $200,000 for December contracts, with calls outnumbering puts.
At the same time, US spot Bitcoin exchange-traded funds (ETFs) have seen $2.3 billion in inflows over the past five days, underscoring robust institutional demand.
Whales and institutions step in
On-chain data indicates that whales have resumed accumulation, adding to the buying pressure. Stablecoin liquidity and steady ETF inflows are providing additional fuel.
Volatility, however, remains likely because the market depth near resistance is thin, although whales and large holders could anchor Bitcoin’s next surge.
Institutional positioning is also strengthening, with PayPal recently announcing plans to integrate Bitcoin (BTC) and Ethereum (ETH) into its revamped peer-to-peer (P2P) payment system, allowing users to send crypto across PayPal, Venmo, and other wallets.
PayPal’s move signals a step toward mainstream adoption and adds to the narrative that Bitcoin is becoming more deeply embedded in global payments.
Galaxy Digital’s Mike Novogratz signals an altcoin season
While Bitcoin consolidates, altcoins are drawing attention.
Galaxy Digital’s Mike Novogratz argues that the “real fireworks” are in alternative assets and corporate treasuries tied to coins like Solana (SOL).
Novogratz pointed to Forward Industries’ $1.6 billion raise as evidence of fresh institutional capital flowing into crypto outside of Bitcoin.
Even so, Novogratz insists Bitcoin remains “digital gold” with a long-term trajectory that points higher.
Wall Street’s interest is also growing, with Nasdaq recently filing to list tokenised versions of stocks and ETFs on-chain, while SEC Chair Paul Atkins has pledged to “move all markets on-chain.”
Together with faster, more secure blockchains, the regulatory pivot is laying the groundwork for broader adoption across traditional finance.
So, can Bitcoin’s price really hit $200,000?
Despite an 8% pullback from August’s high, sentiment remains firmly bullish.
Industry voices from Arthur Hayes to analysts at Bitwise, Bernstein, and Standard Chartered have all predicted Bitcoin will reach at least $200,000 this cycle.
Hayes goes further, projecting $250,000, while Coinbase CEO Brian Armstrong sees the possibility of $1 million Bitcoin by 2030.
I think we’ll see $1M per bitcoin by 2030.
Regulatory clarity is finally emerging, the US government is keeping a BTC reserve, there’s a growing interest for crypto ETFs, among many other factors.
DOGE is down 9% in the last 24 hours, making it the worst performer among the top 10 cryptocurrencies by market cap.
Bulls are still targeting the $0.311 mark despite the temporary dip.
Memecoins dump as market opens new week bearish
The crypto market started the new week bearish, with Bitcoin temporarily dropping below $115k, while Ether tested the $4,488 support level. However, memecoins were the worst performers over the last 24 hours.
Dogecoin, the leading memecoin by market cap, is down 9% in the last 24 hours. The bearish performance saw DOGE drop below $0.26 earlier today. Other memecoins are also down significantly over the last 24 hours.
Shiba Inu has lost 6.7% of its value, with PEPE (8%), PENGU (6.5%), BONK (10%), TRUMP (4%), and FLOKI (8%) all recording heavy losses. However, traders expect DOGE and others to bounce back soon.
DOGE targets $0.311 resistance level
The DOGE/USD 4-hour chart is bullish and efficient despite Dogecoin’s underperformance. The leading memecoin’s price broke above the symmetrical triangle pattern last week, surging by 20% afterward.
However, it has lost 9% of its value since Sunday and is now trading around $0.265 per coin. The RSI of 66 shows that buyers are still in control, with the MACD lines still within the bullish zone.
If DOGE holds the daily support level at $0.256, it could extend its rally and target a new monthly high of $0.311 over the next few hours or days. An extended bullish run would allow DOGE to hit the $0.35 mark for the first time since January.
However, failure to hold the $0.256 support level could see DOGE decline towards the next major support at $0.242
However, Dogecoin’s sentiment data shows that traders are extremely bullish on the cryptocurrency. Its trading volume hit $9.02 billion on Saturday, its highest level since early February. The rising volume shows that traders are taking more interest in DOGE, with more liquidity pouring into the Dogecoin ecosystem.
