Bitcoin rises more than $ 1,18,000 after the US Fed rate has been lowered. Can it move past $ 1,20,000 in the short term?

Bitcoin rose slightly to over $ 1.18,000 point on Thursday, September 18, after the US Federal Reserve announced 25 BPS rate cuts on Wednesday night. The overall market cap of the global crypto market has risen to 2 percent. As expected, the US Federal Reserve has reduced the interest rate by 25 basis points and indicated the possibility of two extra cuts before the year ends. The recent upward momentum is largely fueled by ETF inflow, supported by rising institutional demand and optimistic expectations of cutting the rate, indicating increasing confidence among traders and long -term investors. “The Crypto market consumes the Fed’s 25 BPS rate reduction with surprising calm, as Bitcoin is moving slowly upward despite the initial volatility. Traders remain in split, while some believe the cut is already priced, the optimism is still on bitcoin that recycles momentum to the $ 120,000 point as catalyst,” Avinash Sheekhar, CEO, PI42. Meanwhile, Ethereum also remained steady after the FOMC meeting, rising by almost 2 percent to move past $ 4.600 on Thursday. “Ethereum, meanwhile, is flashing power as Bulls Eye Fresh Record Highs, while XRP is fueled by optimism around an ETF approval that can target it at $ 3.66,” Shekhar added. Other altcoins such as XRP and Dogecoin also saw stronger reactions after the announcement, suggesting that capital rotation is below the surface. Where is it going on the short term? According to Avinash Shekhar of PI42, the crypto market is trading carefully despite rate cuts. “In general, the market is trading carefully and balances the macro policy signals with sector-specific optimism, and the next step depends on how traders interpret Powell’s comments in the upcoming sessions,” he said. Investors are now looking at clues from the Central Bank’s October meeting to determine whether the move from Wednesday indicates the start of a larger policy shift or is simply a standalone adjustment. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, not coin. We advise investors to check with certified experts before making investment decisions.