Bitcoin Trades Near $117K, Showcases Resilience After US Fed Cut, Experts Predict Fresh All-Time Highs Within Weeks

Bitcoin trades near $117K after the US Fed's rate cut, showing resilience. Experts believe the market is watching a strong probability of fresh all-time highs within weeks, supported by whale inflows and steady institutional demand. Altcoins like Solana and Chainlink are also gaining momentum, while Ethereum and newer tokens are benefiting from smart-money rotation. The overall sentiment remains constructive, with capital rotation into altcoins reinforcing the bullish undertone.

Bitcoin and several major altcoins have shown remarkable resilience and growth following the Federal Reserve's recent 25 basis point interest rate cut. The market response has been swift, with Bitcoin trading near $117,000 and altcoins such as Solana and Chainlink experiencing significant gains. This bullish sentiment is driven by strong institutional demand and a potential for further all-time highs.

The Federal Reserve's announcement of a 25 basis point rate cut on September 17 has sparked a rally across the cryptocurrency market. Bitcoin, the largest cryptocurrency by market capitalization, has seen a 1% increase in its price, reaching $117,531. This is a notable development, especially considering the elevated interest rates that preceded the cut Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

Altcoins have also shown strong performance, with Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) posting gains between 3-5% in the past 24 hours. BNB Coin, in particular, is approaching a major milestone, eyeing the $1000 mark amid rumors of CZ's return to Binance Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

Market liquidations have reached $415 million in the last 24 hours, with $232 million coming from short positions being liquidated as prices moved higher. This indicates a significant increase in trading activity and market confidence Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

Bitcoin's price has been consolidating in the $112,000-$115,000 range in recent weeks, even as the S&P 500 has continued pushing to new all-time highs above 6,600. The correlation between Bitcoin and the S&P 500 suggests that Bitcoin may follow a similar pattern following the Fed's rate cut Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

Analysts have identified $115,440 as a key support level for Bitcoin, with potential upside toward $137,300. However, if Bitcoin breaks below this support, it could open a downside path to $93,600. Investors remain cautious as Bitcoin's volatility has decreased recently, with many watching for a daily close above $117,200, which could signal further gains toward the $120,000 level Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

The US Securities and Exchange Commission has allowed a proposed rule change to adopt generic listing standards for cryptocurrency ETFs. This regulatory development could pave the way for new ETF approvals for tokens like SOL, ADA, and DOGE. Each of these altcoins has gained more than 5% in the past 24 hours, outpacing Bitcoin's more modest rise Bitcoin (BTC) Price: Fed Rate Cut Drives 1% Gain While Altcoins Jump 3-5%^[1].

Bitcoin's reclaim of the 8-year trendline, coupled with roughly $2.3 billion in US spot ETF inflows, presents a compelling technical and demand-based setup. Traders and investors should watch $117,200 for a breakout confirmation and manage downside risk around $113,500 Bitcoin Poised Near $117,200 Resistance After Reclaiming 8-Year Trendline Amid $2.3B ETF Inflows^[2].

The overall sentiment remains constructive, with capital rotation into altcoins reinforcing the bullish undertone. The Federal Reserve's rate cut has not only driven Bitcoin and altcoins higher but has also sparked renewed interest and confidence in the cryptocurrency market.