Bitcoin News Today: Crypto Market Awaits Turning Point Amid Fed Rate Cut Odds and ETF Speculation

The cryptocurrency market is entering a pivotal phase in September, with traders and investors closely watching for signs of a potential turning point amid diverging forecasts and regulatory developments. While Bitcoin has remained in a relatively stable range around $115,300, market participants are speculating about its next major directional move, especially against the backdrop of macroeconomic uncertainties and regulatory developments [1]. Analysts estimate an 87% probability of a U.S. Federal Reserve rate cut by year-end, which has fueled optimism that Bitcoin could break above $124,000 [1]. However, this bullish scenario faces headwinds, particularly from geopolitical tensions and hawkish commentary from the Federal Open Market Committee, which have already caused sharp price fluctuations [6].

Market expert Bob Loukas has warned that the recent retest of Bitcoin’s May cycle highs could signal the end of a 60-day bullish cycle, with a potential weekly decline expected in September [1]. His analysis underscores the importance of closely monitoring economic indicators, such as inflation and employment data, which could either validate or challenge this bearish scenario. Meanwhile, Ethereum has remained relatively resilient, trading near $3,700, and has seen positive inflows for 15 consecutive weeks [1]. Altcoins have also experienced some gains, though Bitcoin’s dominance of approximately 61.17% suggests that broader market sentiment is still largely dictated by the leading cryptocurrency [7].

The regulatory landscape also remains a key factor, with speculation growing around the approval of altcoin ETFs. Recent remarks by SEC Chair Gary Gensler indicate that the agency is moving toward a more streamlined approach for altcoins, many of which do not fall under the traditional securities framework [1]. This could potentially unlock new liquidity and institutional interest, though no concrete decisions have yet been announced. Traders are also monitoring fund flows, with a net outflow of $223 million from the crypto market in recent days, led by a $404 million exodus from Bitcoin [1]. While Ethereum continues to attract capital, the broader outflows suggest a cautious approach from some market participants.

Despite the volatility, Bitcoin has shown signs of consolidation, stabilizing near $115,300 in early August [6]. This has raised questions about whether the market is preparing for a more sustained bullish run or merely testing support levels ahead of a potential pullback. Some analysts suggest that if the broader crypto market cap breaks above $3.73 trillion, it could drive Bitcoin toward $140,000 [9], though this remains a speculative scenario given current market conditions.

The coming weeks will be crucial as the market reacts to macroeconomic data, regulatory updates, and fund flows. With September approaching, the crypto market remains on edge, and any major developments—whether in the form of rate cuts, ETF approvals, or geopolitical shifts—could significantly reshape the trajectory of digital assets [1].

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[1] https://coinmarketcap.com/community/articles/689100ced81833061c47eb17/