Bitcoin Madness: $117K and the Fed’s Rate Cut Circus 🎪💸

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Key takeaways:

  • Fed interest-rate cut odds for today are now an absurd 100%, as if fate itself were scripted by bureaucrats with too much time on their hands.

  • BTC price may soar to dizzying all-time highs-perhaps $118,000-if it can shatter its ironclad resistance, or, like a Soviet factory worker’s dreams, be crushed beneath invisible weights.

Bitcoin (BTC), that enigmatic digital phantom haunting the market like a spirit trapped in a bureaucratic ledger, climbed to a four-week high just above $117,000 this weary Wednesday. Traders, those modern-day oracles of greed and hope, brace themselves for the wild volatility before and after the solemn Federal policy pronouncement on interest rate cuts-a ritual as predictable and absurd as a commissar’s morning inspection.

100% chance of interest rate cuts – What a glorious inevitability

According to the inscrutable auguries of CME’s FedWatch tool, there is a 96% chance the Federal Open Market Committee will cut rates by 25 basis points at the forthcoming Sept. 17 meeting, with a reckless 4% wagering on a daring 50 bps plunge. Meanwhile, Polymarket’s gamblers, no strangers to chance, have similarly locked their bets: 93% for a modest cut, 5% dreaming of a bolder slash.

Bitcoin charts and prediction madness

The consensus swells like a common crowd awaiting a show: three cuts before the year’s end, according to these digital prophets. Yet, some voices-perhaps the wise or just resigned-claim such market tremors have long been “priced in,” as the phrase goes, meaning the chaos is merely the echo of a well-rehearsed play.

All eyes now fixate on Jerome Powell, the man burdened with calming capricious markets while under the enigmatic pressure of a former president who tweets like a drunk revolutionary. Powell’s previous hints to adjust rates citing inflation and labor market puzzles offer a sliver of hope, or perhaps a riddle wrapped in a bureaucrat’s cautious language.

Watch closely, they say, for any tone shifts at the FOMC press conference. A single murmur might send Bitcoin’s phantasmal price on a merry dance or a tragic fall.

“Markets are locked on the FOMC Wednesday, with a 25 bps cut priced in,” intoned private wealth manager Swissblock on the digital megaphone X. Traders await “Powell’s stance under the spotlight for hints,” as if such readings might reveal the meaning of life or just the next price spike.

Swissblock’s seers also warn – and it’s worth quoting their solemn words exactly – that volatility is unavoidable, like the certainty of bureaucratic inefficiency:

“Bitcoin’s Risk Index will guide whether BTC’s bullish structure holds or if a sell-off looms on the horizon.”

Bitcoin risk index graph, or modern oracle

Meanwhile, analyst AlphaBTC, no doubt fueled by caffeine and existential dread, forecasts a brief rise to $118,000 before a cautious retreat after the FOMC decision-because nothing in this market is straightforward, except the certainty of second guessing.

Where to next for BTC price? Or into the abyss we march

Bitcoin must transform that oppressive resistance at $118,000 into a sturdy platform of support, from which it may glimpse the elusive peaks of all-time highs, or merely stumble back into the cryptic trenches from which it came.

“Bitcoin keeps slowly grinding higher, now pushing into the 116.5K-118K resistance area,” announced the digital prophet Jelle on X, as if narrating the eternal grinding of unseen gears in some Kafkaesque machine. With grim sincerity, he added:

“Break 118K and hold above it, and new all-time highs are next.”

Bitcoin chart pushing resistance

Data from CryptoMoon Markets Pro and TradingView confirm Bitcoin’s relentless assault on the wall between $117,500 and $118,500. Michael van de Poppe, a founder with cryptic wisdom, cautions that this could be “just a run before a drop.” Isn’t that always the way? Hope followed by despair, like a tragicomedy in digital form.

#Bitcoin attacking the range resistance pre-FOMC could be a great sign.

Quite usually it’s just a run before a drop.

We’ll see.

It’s going to be fun! 🤡

– Michaël van de Poppe (@CryptoMichNL) September 17, 2025

His analysis teases the possibility that breaking through $118,000 might spark a mad dash toward $120,000, and then to the fabled heights of $124,500-the stuff of legend and dreams poorly grounded in reality.

But beware! On the downside lurks a dark range between $116,800 and $114,500, a price purgatory held firm over the past week.

If this fortress crumbles, the next stop might be a reluctant revisit to the $112,000 psychological wall-the 100-day simple moving average, or as some might call it, the last bastion of statistical hope.

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2025-09-17 12:55