Cryptocurrency Market Today, September 16: New Warning About Bitcoin

(NLDO)- Some experts predict that in the short term, Bitcoin prices will continue to fluctuate strongly, but in the long term, the increase will be reinforced by low interest rates.

On the morning of September 16, the cryptocurrency market was still flooded with red, showing investors' cautious sentiment before the important meeting of the US Federal Reserve (Fed).

New Warning About Bitcoin

Price movements of major coins Data from OKX exchange at 10:30 showed Bitcoin (BTC) almost flat, down slightly by 0.07%, fluctuating around $115,400. Ethereum (ETH) fell more sharply, losing 2.1% to $4,530. Solana (SOL) fell 2.6% to $235, while BNB fell 1% to $920.

According to Cointelegraph, the $117,000 – $117,200 range continues to be a strong resistance level for Bitcoin. Investor Ted Pillows warned that if this mark is not surpassed, BTC is at risk of falling to $113,500 or lower.

At 10:30 AM, Bitcoin was trading around $115,400 Source: OKX

Dominant macro factors

Analysts are keeping an eye on the Fed meeting this week, with many predicting the agency will cut interest rates for the first time in 2025, possibly by 0.25% or even 0.5%. If that happens, money will likely return to risk assets like Bitcoin and gold.

Long-term positive signals Although short-term volatility is unpredictable, the long-term outlook is still reinforced. Last week, Bitcoin ETFs in the US absorbed a net of $2.3 billion – nearly 9 times the amount of newly mined BTC. Binance also recorded a sharp increase in buying activity from large organizations, pushing up the index measuring scarcity.

Many technical models predict that Bitcoin's bull run is not over yet, and may even head towards the $140,000-$160,000 range before setting a new peak.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-16-9-canh-bao-moi-ve-bitcoin-196250916111450313.htm