Bitcoin climbed to its highest level in a month, reaching approximately $118,000 on September 18, 2025. The rally came after the Federal Reserve cut interest rates by 25 basis points.
The cryptocurrency is currently trading around $117,000. This represents a 1% daily increase from previous levels.
Federal Reserve Chair Jerome Powell noted during his speech that job growth had slowed and unemployment had risen slightly. The central bank indicated that employment risks had increased, suggesting a more dovish approach ahead.
Bitcoin’s intraday trading has remained within a tight range between $116,000 and $118,000. Trading volumes have increased compared to the previous week.
On-chain data reveals that traders are opening new long positions. This buying pressure could help push Bitcoin toward the $120,000 level.
Analyst Michael van de Poppe identified $119,000 as a crucial resistance level for Bitcoin. Breaking through this point could open the path to $123,700.
The more important part; will $BTC break through this crucial resistance zone?
All I'm sure about is that, once #Bitcoin stabilizes, we'll start to see big breakouts on #Altcoins occur. pic.twitter.com/7PdiM99SId
— Michaël van de Poppe (@CryptoMichNL) September 18, 2025
Another analyst, Ali Martinez, highlighted $115,440 as an important support level. If Bitcoin holds above this price, it could potentially rise toward $137,300.
$115,440 is the most important support level for Bitcoin $BTC, according to the Pricing Bands.
– Hold it, and $137,300 is next.
– Lose it, and $93,600 comes into play. pic.twitter.com/zVWLnPKKtd— Ali (@ali_charts) September 18, 2025
The downside scenario presents different targets. Support levels exist at $114,700 and $111,900 where buyers might enter the market.
If Bitcoin breaks below the $115,000 support zone, it could decline toward $110,000 or even $100,000. Some analysts see this as a key range to watch.
Spot Bitcoin ETFs have seen net inflows throughout September. These institutional purchases have provided support in the $115,000 to $120,000 range.
On September 18 (ET), Ethereum spot ETFs recorded a total net inflow of $213 million, with none of the nine ETFs seeing net outflows. Bitcoin spot ETFs saw a total net inflow of $163 million, with all twelve ETFs also reporting no net outflows.https://t.co/Tvs2oCS03I pic.twitter.com/lwaV9iOcHr
— Wu Blockchain (@WuBlockchain) September 19, 2025
Exchange data shows major withdrawals from centralized platforms. This reduces the available supply for immediate trading.
Open interest in Bitcoin futures has increased steadily. This indicates traders are opening new positions rather than closing existing ones.
The cumulative volume delta has moved upward, showing consistent buying pressure. Daily trading volume jumped 41% to over $67 billion.
Derivatives measures suggest traders are becoming more leveraged. This could amplify price movements in either direction.
Short liquidations reached $232 million across the crypto market. This forced covering added to the upward momentum.
The broader crypto market also benefited from Bitcoin’s rally. Altcoins posted strong gains following Powell’s announcement.
Ripple’s XRP gained 3% while BNB Coin hit new all-time highs. Other major tokens including SOL, ADA, and DOGE each gained more than 5%.
The U.S. SEC approved new generic listing standards for crypto ETFs. This development could lead to approval of ETFs for other cryptocurrencies beyond Bitcoin.
Historically, the S&P 500 has rallied an average of 15% in the year following a Fed rate cut. Given Bitcoin’s correlation with traditional markets, this precedent supports bullish expectations.
Current market conditions show Bitcoin testing the $119,000 resistance level with strong institutional backing and reduced exchange supply supporting the upward move.
The post Bitcoin (BTC) Price: Hits One-Month High as Analysts Target $123k Following Fed Rate Decision appeared first on CoinCentral.
Also read: Trump Takes Fed Governor Lisa Cook to the Supreme Court
