A New Bull Era Incoming? Eyes on September 21 📅🔥

After the Fed reduced interest rates, Bitcoin (BTC), the main cryptocurrency, fell, erasing its gains.

After rising to roughly $118,000—5% below its all-time high—the market faces increased volatility. Despite this setback, analysts remain bullish about Bitcoin's long-term future, particularly as September 21, a critical date for its price trajectory, approaches.

Market expert Timothy Peterson notes that Bitcoin has concluded the year higher 70% of the time following September 21, with a median rise of 50%. He calls this date “Bitcoin Bottom Day,” implying a price surge.

In 2018 and 2022, Bitcoin saw two of its three downturns during bad markets, which do not represent the current market. He estimates a 90% price increase this year.

Bitcoin's history shows it will keep its gains six months after September 21. Bitcoin is 70% unlikely to sink below $100,000 again, according to Peterson.

Ryan Lee, chief analyst at cryptocurrency exchange Bitget, also credits the Fed's 25-basis-point rate decrease for momentarily driving Bitcoin past $117,000. Increased market liquidity prompted this first reduction in nine months.

The median prediction of just 50 basis points in total cuts for the year may dampen confidence and cause volatility as traders modify their plans, Lee warns.

In this risk-on environment, Bitcoin's position as a hedge is highlighted, particularly with $7.2 trillion in cash-like products.

Lee expects the cryptocurrency to consolidate before hitting $123,000–$150,000 if rate cuts occur.

Bitfinex analysts expect Bitcoin to reach $125,000–$135,000 by year-end due to three rate drops and strong ETF inflows.

They also warn that institutional involvement and ETF assets under management might stabilize Bitcoin between $110,000 and $115,000 if inflation or economic growth indicators prevent the Fed from cutting further.

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