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.
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.
ETH risks dropping below $4,500 after losing 3.5% of its value.
The support level at $4,350 could be the next target if ETH fails to bounce.
ETH dips to $4,500 as market opens bearish
The cryptocurrency market opens a new week bearish after an excellent performance last week. Bitcoin, the leading cryptocurrency by market cap, lost 1% of its value and temporarily dropped below the $115k mark.
Ether, the leading altcoin and the second-largest cryptocurrency by market cap, recorded an even bigger loss. It dipped 3.5% in the last 24 hours to now trade at $4,510.
The bearish performance comes despite the crucial Fed rate decision later this week. Ether hit an all-time high above $4,900 in August but has failed to build on this momentum since then. It is down 9% from its all-time high but could look to bounce back soon.
This week’s price action could be determined by the Fed rate decision on Wednesday. A rate cut by the Federal Reserve will send BTC, ETH, and other crypto assets flying in the near term.
Ether bulls target new all-time high above $5k
The ETH/USD 4-hour chart remains bullish and efficient, suggesting that buyers remain in control despite the recent bearish price action. The momentum indicators also remain bullish, with ETH now targeting a new all-time high.
Ether has found support temporarily around $4,488. The RSI of 60 shows that ETH remains bullish on the higher timeframe. The MACD line is also within the positive territory, suggesting a bullish bias.
If the $4,488 support holds, Ether could extend its rally towards the all-time high price of $4,956. An extended bullish run would allow it to surpass the $5k mark for the first time in its history.
However, failure to defend the support level at $4,488 could see ETH drop to the next major resistance level at $4,350. The resistance level is also a 4-hour TLQ and could provide the required liquidity to surge higher.
Safety Shot launches BONK Holdings and acquires 228.9B BONK tokens.
SHOT stock slides while BONK price gains 8% in the past 24 hours.
BONK charts signal a possible breakout toward $0.0003620.
Safety Shot has made a bold entry into the digital asset world, launching a new subsidiary centred on the fast-rising Solana-based memecoin BONK.
The move underlines the company’s growing interest in blockchain assets and highlights how traditional firms are positioning themselves within the cryptocurrency economy.
Safety Shot launches BONK Holdings LLC
On September 11, Safety Shot announced the creation of BONK Holdings LLC, a dedicated subsidiary that will manage the firm’s digital asset strategy.
Safety Shot also revealed that it had accumulated a significant position in BONK, expanding its treasury to 228.9 billion tokens.
This stash represents more than 2.5% of the memecoin’s circulating supply, valued at roughly $55 million at prevailing market prices.
The firm’s average purchase price for the tokens stands at $0.00002184, achieved through prior initiatives and a fresh $5 million acquisition in partnership with digital trading platform FalconX.
Rather than storing the tokens passively, Safety Shot plans to deploy its holdings in the Solana DeFi ecosystem, using them for staking, liquidity provision, and yield farming.
The company argues this approach will generate non-dilutive returns while strengthening its balance sheet.
Notably, Safety Shot’s leadership has been vocal about the rationale behind this move.
Chief Executive Officer Jarrett Boon emphasised that the company views BONK as a “top-tier digital asset” and sees untapped value in integrating it with its existing consumer brands.
In late August, the firm raised $30 million to further solidify its growth strategy and recently appointed Mitchell Rudy, one of BONK’s original founders, to its board of directors.
Safety Shot stock reaction lags behind BONK gains
Despite the ambitious plans, Safety Shot’s shares have struggled to convince investors.
Following the announcement, SHOT stock dipped to $0.37, its lowest level in two months, before closing slightly higher at $0.39, and the pre-market trading has brought only a modest uptick.
The decline suggests that equity investors remain cautious, even as the company highlights the scale of its digital and cash assets compared to its overall market cap of about $85.4 million.
In contrast, BONK itself has enjoyed a strong run. Over the past day, the memecoin has gained 8.3%, trading at $0.00002512 at press time.
While BONK’s price is still far below its November 2024 all-time high of $0.00005825, the token remains one of the best-performing assets in the Solana ecosystem since its launch.
BONK price outlook shows bullish potential
From a technical perspective, BONK’s chart signals the possibility of a bullish breakout.
The memecoin has been trading within an ascending channel, with $0.0002377 acting as a solid support level.
$0.0002620 is a key resistance, and a breakout above this level could pave the way for a run toward $0.0003620, a move that would represent a potential 150% upside from recent levels.
While volatility remains part of BONK’s identity as a meme-inspired token, the increasing involvement of institutions like Safety Shot is beginning to change the conversation.
Safety Shot’s willingness to stake a sizable portion of BONK in DeFi platforms adds both liquidity and legitimacy to the project.
If the broader Solana market continues to expand, BONK could see further momentum in the months ahead.
