Cryptocurrency Market Today, September 19: What's in store?

(NLDO)- Some experts say Bitcoin price may adjust to the $113,000 - $114,000 range before continuing to rise.

Cryptocurrencies fluctuate

On the morning of September 19, the cryptocurrency market opened with mixed fluctuations among major currencies. According to data from the OKX exchange recorded at 7:30 a.m., Bitcoin (BTC) continued to be the center of attention when it increased by nearly 1% in the past 24 hours, trading above $117,300. This is a threshold that analysts consider quite important, as many forecast that BTC has a 70% chance of setting a new peak in the next two weeks.

In the Altcoin group, the divergence was clear. Ethereum (ETH) decreased slightly by 0.02%, falling below the $4,600 mark, while BNB lost nearly 0.5% to $982. In contrast, Solana (SOL) increased by more than 1% to $248, while XRP increased by 0.05%, maintaining above $3. The tug-of-war between major coins shows that the cash flow in the market is still selectively distributed, instead of being concentrated in a single channel.

According to CoinTelegraph, Mr. Axel Adler Jr., a cryptocurrency research expert, commented that the market is currently in a state of balance, neither overheating nor falling into a wave of sell-offs.

This is considered a favorable foundation for Bitcoin's ability to breakout after a short sideways period, when investor sentiment is quite stable and waiting for clearer signals about the trend.

He also stressed that October usually brings positive developments for Bitcoin.

Bitcoin is trading above $117,300 Source: OKX

How much will Bitcoin hit when the market is "heating up again"?

Institutional investor capital is providing a strong boost to Bitcoin. In less than two weeks, Bitcoin ETFs in the US have attracted $2.8 billion, showing that great confidence is returning to the market.

Despite pressure from the US Federal Reserve's interest rate policy, Bitcoin still increased by more than 8% in September, from about $107,000 to nearly $118,000. This development raised many expectations for the possibility of another breakout.

Some experts warn that the price may correct to the $113,000–$114,000 range before continuing the uptrend. This is considered an important support zone to test the market's resilience. If Bitcoin holds above $117,500, a deep drop scenario is unlikely, opening up the opportunity to move towards the $124,000 price range.

Seasonality is also mentioned as one of the supporting signals. When demand increases at certain times of the year, combined with ETF inflows and a more positive market sentiment, Bitcoin can take advantage of the opportunity to break out after a period of sideways trading.

However, things are not entirely smooth. Maintaining above key price levels depends on technical factors, policy moves from the Fed, and external risks such as global economic volatility. If there is bad news about inflation or tightening monetary policy, Bitcoin could still come under pressure.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-19-9-dieu-gi-dang-cho-doi-196250919074001169.htm