The crypto market opened this week with heavy focus on the Federal Reserve rate cut and its impact on Bitcoin. The BTC price dipped to $114,700 before rebounding to $116,450, with traders debating whether the world’s largest crypto can reclaim momentum. Meanwhile, PayFi giant Remittix has raised over $26.1 million from 666 million tokens at $0.1080 each, drawing attention as one of the best cryptos to buy now.
Source: Ted Pillows
The BTC price is consolidating in an ascending channel that started in early September. Support rests at the 50-SMA near $115,900 and the 200-SMA around $113,300. Bulls are watching for resistance at $117,980 and $120,000, while bears see downside risk if $115,750 breaks. On-chain data shows ETF inflows remain strong even as retail traders stay cautious. With institutional demand providing the floor, a move back to $120,000 remains possible, though downside pressure to $114,400 cannot be ruled out.
Market watchers link the Fed’s 25 basis point cut to renewed demand for risk assets. Cheaper borrowing costs make Bitcoin more attractive compared to bonds, fueling debate on whether this could be the start of another run higher. Still, traders warn of volatility ahead, especially around options expiry. For now, the BTC price prediction depends on whether bulls can defend $116,000.
While Bitcoin continues to dominate headlines, many investors are rotating into tokens with real utility. Remittix is quickly being recognized as the best crypto to buy now because it solves a $19 trillion payments problem through direct crypto-to-bank transfers in 30+ countries. More than a meme or a speculative bet, it is building infrastructure for global remittances.
Here are six reasons Remittix is on watchlists today:
The BTC price outlook remains constructive, but upside could be capped near resistance. By contrast, Remittix is not only raising funds at speed but also bringing real-world use cases to crypto. For investors scanning the market for the next 30x play, the case for Remittix as the smarter buy is growing stronger by the day.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250K Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
The post BTC Price Retraces Under $116,500 After FOMC Talk; Which Direction Is Bitcoin Heading Next appeared first on Blockonomi.
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