Bitcoin News Today: Bitcoin Eyes $124K As 87% Fed Rate Cut Odds Spur Rally Hopes

Bitcoin’s price is currently being driven by growing expectations of a U.S. Federal Reserve rate cut, with the CME FedWatch Tool showing an 87% probability of a 25-basis-point cut in September [1]. This has spurred optimism in the cryptocurrency market, with analysts identifying the potential for Bitcoin to surge toward $124,000, a key resistance level and potential breakout target [1].

As of August 4, 2025, Bitcoin opened at $114,505, with minimal movement following the weekend, indicating a narrow CME gap and suggesting room for a short-term price recovery [1]. Analysts are closely monitoring the market’s behavior ahead of the September 17 Federal Open Market Committee meeting, with many believing that a rate cut could trigger a rally in risk assets like Bitcoin [1].

The anticipated easing of monetary policy is seen as a positive development for the cryptocurrency market. Historically, lower interest rates have weakened the U.S. dollar and increased demand for alternative assets, a trend that occurred following the last rate cut in December 2024 [1]. Market participants are beginning to position themselves ahead of the expected policy shift, which could lead to a pre-emptive Bitcoin price increase.

Crypto Raven, a well-known analyst, has outlined a potential price trajectory based on volume profile analysis. He suggests that Bitcoin could dip to between $110,000 and $112,000 before rebounding [1]. A critical resistance level is seen at $118,000, which he views as a stepping stone toward $124,000 [1]. His analysis hinges on the idea that high-volume trading zones act as price magnets, potentially guiding the market upward after a temporary pullback.

Daan Crypto, another market observer, has also expressed short-term optimism, noting that the current dip may be a typical monthly correction. He pointed out that such patterns have historically been followed by strong upward movements during broader uptrends, suggesting that the recent decline may be temporary [1].

While these are analyst projections, they highlight a growing consensus that Bitcoin is in a favorable position for a potential upward move in the coming weeks. The next six weeks will be crucial for the asset’s price trajectory, particularly if the Fed follows through with a rate cut. However, actual outcomes will depend on how the central bank acts and how the broader market reacts to policy developments [1].

Source:

[1] Bitcoin Price Prediction As September Rate Cut Odds Soar to 87% – Analysts Eye $124K Next (https://coingape.com/markets/bitcoin-price-prediction-as-september-rate-cut-odds-soar-to-87-analysts-eye-124k-next/)