5 hours ago
Bitcoin traded astatine $116,236 arsenic of 14:04 UTC connected Sept. 17, up astir 1% successful the past 24 hours, holding supra a cardinal level arsenic markets await the Federal Reserve’s argumentation announcement.
Analysts' comments
Dean Crypto Trades noted connected X that bitcoin is lone astir 7% supra its post-election section peak, portion the S&P 500 has risen 9% and golden has surged 36% during the aforesaid period. He said bitcoin has compressed much than those assets, making it apt to pb the adjacent larger move, though it could signifier a “lower high” earlier extending further. He added that ether could articulation successful erstwhile it breaks $5,000 and enters terms discovery.
Lark Davis pointed to bitcoin’s past astir September FOMC meetings, saying each September determination since 2020 — but during the 2022 carnivore marketplace — has preceded a beardown rally. He stressed that the signifier is little astir the Fed’s complaint prime itself and much astir seasonal dynamics, arguing that bitcoin tends to thrive successful this play heading into “Uptober.”
CoinDesk Research's method analysis
According to CoinDesk Research's method investigation information model, bitcoin roseate astir 0.9% during the Sept. 16–17 investigation window, climbing from $115,461 to $116,520. BTC reached a league precocious of $117,317 astatine 07:00 UTC connected Sept. 17 earlier consolidating.
Following that peak, bitcoin tested the $116,400–$116,600 scope aggregate times, confirming it arsenic a short-term enactment zone. In the last hr of the session, betwixt 11:39 and 12:38 UTC, BTC attempted a breakout: prices moved narrowly betwixt $116,351 and $116,376 earlier spiking to $116,551 astatine 12:34 connected higher volume. This confirmed a consolidation-breakout pattern, though the gains were modest.
Overall, bitcoin remains steadfast supra $116,000, with enactment astir $116,400 and absorption adjacent $117,300.
Latest 24-hour and one-month illustration analysis
The latest 24-hour CoinDesk Data chart, ending 14:04 UTC connected Sept. 17, shows BTC astatine $116,236 aft retreating from intraday highs adjacent $117,295. The terms has consolidated successful the $116,000–$116,500 band, underscoring short-term support.
The one-month illustration shows bitcoin climbing from lows adjacent $108,000 successful precocious August to caller highs supra $117,000. The inclination remains upward, though the past fewer sessions amusement consolidation, suggesting the marketplace is pausing earlier its adjacent move.
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