Bitcoin crossed $117,000 in the past 24 hours, posting gains even as global equity markets swung sharply following the Federal Reserve’s latest rate cute.
While stocks struggled to find direction, BTC managed to hold steady, supported by renewed inflows into crypto investment products.
Bitcoin ETF Inflows Rise
The Federal Open Market Committee announced a 25 bps rate cut, which, on paper, is positive for digital assets. However, traditional markets saw the move as a signal of weakening economic conditions, with indexes spiking and then falling in volatile sessions.
Bitcoin, however, maintained momentum, thanks largely to institutional support. ETF inflows were strong throughout the week, except on September 17 when the FOMC decision had yet to be released. Investors appeared unfazed by macro turbulence, betting that Bitcoin’s trajectory would remain positive despite broader financial market concerns.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
On-chain signals suggest that not every participant shares the same optimism. New Address Momentum has contracted in recent days, reflecting hesitation from retail investors. Fewer fresh entries into the market highlight concerns about potential saturation or an impending reversal.
That said, long-term participants and institutional investors remain consistent in their activity, helping BTC hold its price strength. While retail hesitation can limit growth speed, Bitcoin’s resilience is underscored by its ability to diverge from stock markets when volatility spikes.
BTC Price May Continue Its Rally
Bitcoin is currently trading at $117,182, continuing its uptrend since the beginning of the month. The immediate challenge lies in flipping $117,261 into support, which would give the cryptocurrency the base it needs for further upside.
If successful, Bitcoin could target $120,000 as its next milestone. A breach and consolidation above that level could set the stage for further gains. This is likely, particularly if ETF inflows continue reinforcing investor confidence.
However, risks remain. Should selling pressure increase, Bitcoin may struggle to hold above key levels. A drop below $115,000 could open the door to a correction toward $112,500, invalidating the bullish thesis and cooling near-term momentum.
The post Bitcoin Price Soars Past $117,000 Following Fed’s 25 bps Rate Cut appeared first on BeInCrypto.