Bitcoin’s Price Outlook Shifts as September 21 Approaches

Bitcoin (BTC) has experienced a decline, erasing gains after the US Federal Reserve's interest rate cut. The price had approached $118,000, nearing its all-time high.

Key Insights

September 21 is considered pivotal for Bitcoin's future price trajectory. Historically, Bitcoin ends the year higher 70% of the time post this date, with a median gain exceeding 50%.
Analyst Timothy Peterson suggests a 90% chance of Bitcoin's price increase and estimates a 70% probability it won't drop below $100,000 again post-September 21.
The recent 25-basis-point rate cut by the Fed increased market liquidity, initially boosting Bitcoin above $117,000.

Potential Market Movements

Ryan Lee of Bitget notes potential volatility due to limited additional rate cuts projected for the year.
Historically, Bitcoin may dip 5% to 8% after rate cuts before resuming an upward trend.
Lee predicts Bitcoin could consolidate before aiming for $123,000 to $150,000 if further rate cuts occur.
Bitfinex analysts project Bitcoin could reach $125,000 to $135,000 by year-end with anticipated rate cuts and ETF inflows.
If economic factors limit further cuts, Bitcoin might stabilize between $110,000 and $115,000.

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