- Consolidation for BTC price happened below the resistance level of $117,200.
- A rate cut of 25 bps is expected to be announced after the FOMC meeting.
- BTC surged slightly by 0.73% over the last 24 hours.
BTC price consolidated below the resistance level. It is anticipated that the upcoming FOMC meeting might pull the price following a probable rate cut. BTC price surged slightly in the last 24 hours amid the sluggish sentiments across the global crypto market.
BTC Price Consolidation
Ted Pillows, a notable opinion leader in the crypto space, stated that the BTC price consolidated below the resistance level. The Bitcoin token is below the mark of $117,200; however, Ted added that the next FOMC meeting could change the direction of the token’s price. FOMC is scheduled to happen on September 16 and 17 this year, that is 2025.
Ted further underlined two possible scenarios for BTC. The flagship cryptocurrency will either mark a new ATH or a new monthly low. BTC price can, according to Pillows, record an all-time high value by reclaiming the milestone of the resistance level. Recording the support level of $113,500 could push the token to the lowest monthly price, according to the opinion leader.
Upcoming FOMC Meeting
It is anticipated that the upcoming FOMC meeting will cut lending rates by 25 bps. This would boost investors’ confidence in making risky investments, crypto sphere in this instance. A report published earlier highlighted that all three upcoming FOMC meetings could cut rates by 25 bps, each. This was backed by Morgan Stanley and Deutsche Bank, with the most optimistic scenario of a 50 bps cut stated by Standard Chartered.
Three rate cuts by the US Federal Reserve are expected due to the rising inflation and labor markets getting tougher every month. The US inflation was recorded at 2.92% on August 31, 2025. This is the highest since February’s report. The US inflation was 3% as reported on January 31, 2025. Interestingly, the Federal Reserve is also expected to cut rates in next year’s first meeting.
Overall Sentiments in BTC
BTC price noted a slight surge of 0.73% in the last 24 hours, exchanging hands at $115,704.62 when the article was being drafted. The 24-hour trading volume jumped massively by 10.29% to reach $45.98 billion for a market cap of $2.3 trillion. However, BTC plummeted by 2.39% in the last month, mostly experiencing red trades.
Nevertheless, BTC price prediction for the next 1 month is optimistic. It is speculated that BTC price would breach the mark of $119,000 with a rise of over 3.7%. Volatility for BTC is on a lower side at 2.17% with an FGI rating of 52 points. The 14-Day RSI currently stands at $56.98.
It is important to note that the contents of this article are neither recommendations nor advice into crypto trading and investment.
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Source: https://thenewscrypto.com/btc-price-consolidated-below-117000-ahead-of-fomc-meeting/
