Bitcoin Clears $116K Resistance Ahead Of Fed Rate Decision

The Bitcoin price rose over 1% in the past 24 hours to trade at $116,942 as of 3:36 a.m. EST, clearing key resistance at $116k ahead of a pivotal Fed rate decision later today.

XRP, BNB, and Cardano(ADA) led gains among the biggest altcoins with increases of 1.5%, 3%, and 2.2%, respectively.

MYX Finance (MYX) soared 44%, Sky (SKY) jumped 10%, and Story (IP) surged 9%, according to CoinMarketCap data.

Pump.fun (PUMP), Ethena (ENA), and World Liberty Financial (WLFI) led the top losers in the market, plunging 5%, 2.2%, and 1.7%, respectively.

Bitcoin Price Soars Ahead Of Fed Rate Decision

The Bitcoin price is showing some positive trend movements, as traders prepare for the Federal Reserve’s rate decision today, at which a 25 basis point cut is widely expected.

Fed rate cuts traditionally signal a rally in crypto markets as lower yields on assets like bonds send investors to riskier assets like crypto.

“When the Fed cuts rates within 2% of all-time highs, the S&P 500 typically loves it,” The Kobeissi Letter said. While immediate-term results were mixed, “in 20 of the last 20 times this has happened, the S&P 500 has ended higher 1 year later.”

When the Fed cuts rates within 2% of all time highs, the S&P 500 typically loves it.

In 20 of the last 20 times this has happened, the S&P 500 has ended higher 1 year later.

The S&P 500 has risen an average of +13.9% over the following 12 months, per Carson Research. pic.twitter.com/Js4QlDLD5S

— The Kobeissi Letter (@KobeissiLetter) September 13, 2025

BTC Rounded Bottom Signals Potential Upside

On the BTC/USD 12-hour chart, BTC price action has formed a rounded bottom pattern, a formation that signals a shift from bearish to bullish sentiment.

After finding support around $107,500, the market gradually curved higher, reclaiming both the 50-day and 200-day Simple Moving Averages near $112,300 and $112,700. This recovery shows growing strength, with buyers steadily regaining control.

The technical indicators are aligned with this outlook. The Relative Strength Index (RSI) currently sits at 64, suggesting strong bullish momentum without being overextended.

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the blue MACD line above the orange signal line and positive histogram bars strengthening, a clear sign of increasing upward momentum.

If the rounded bottom plays out fully, the price of Bitcoin has room to push toward the $124,200 resistance zone, representing about a 6% move from current levels. A successful breakout above this barrier would confirm the bullish reversal.

Altcoin Season Nears As XRP, BNB, And ADA Rise

According to the CoinMarketCap Altcoin Season Index, the altcoin season stands at 69, still short of the 75 level needed to confirm a new altcoin season.

X user Alex Mason noted that the altcoin season historically starts in September.

Altcoin season historically starts in September.

With an upcoming Fed rate cut, the crypto market will explode.

A $1,000 investment today will become $100,000 next month.

Here’s a list of altcoins in the accumulation phase with 100x potential 🧵 pic.twitter.com/pNgIy2ysi6

— Alex Mason 👁△ (@AlexMasonCrypto) September 15, 2025

The XRP price has recently shown strength, rising 2% in the last week and overcoming the $3 resistance level to currently trade at $3.02. 

The outlook was boosted when REX-Osprey announced that its XRP ETF (exchange-traded fund) will launch this week.

Meanwhile, BNB soared to a new ATH of $962, as it closed in on the $1,000 level, before retracing to the current price at $955.64. That came as Bloomberg reported that the US Department of Justice (DOJ) is considering dropping a compliance monitoring requirement that was imposed in 2023 as part of a $4.3 billion settlement.

The Binance Coin price continues its climb within a well-defined rising channel pattern, now testing resistance near $960.

The price of BNB remains firmly above both the 50-day ($879) and 200-day ($766) SMAs, reflecting strong bullish control. However, the RSI at 75 signals overbought conditions, raising the likelihood of near-term exhaustion.

If sellers step in, a retracement toward $900 or Fibonacci supports around $852 and $819 could occur. Sustained strength above $960, however, may extend the rally into prices above $1,000.

Cardano (ADA) trades at $0.8824, with a market cap of nearly $32 billion and 24-hour volume above $1.5 billion. The token has surged 162% year-over-year, showing strong investor confidence.

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