Bitcoin continued its bullish momentum on Tuesday, briefly crossing the $116,000 mark amid heightened volatility ahead of the U.S. Federal Reserve’s key interest rate decision. Analysts remain divided on BTC’s next move, with some predicting a rise toward $117,000, while others foresee a pullback to fill the CME futures gap near $111,000.
The rally comes as markets anticipate a 0.25% rate cut by the Federal Open Market Committee (FOMC). Crypto analyst Michaël van de Poppe noted, “Bitcoin is holding up nicely and may start a new uptrend by the week’s end.” Meanwhile, another trader, Killa, forecasted a potential short-term peak before a correction.
Analysts also pointed out that gold’s decline to $3,886 per ounce could be fueling demand for risk-on assets like Bitcoin and altcoins. Despite the optimism, some traders warned of possible corrections toward $106,000–$110,000 before new highs.
The market’s focus now shifts to Fed Chair Jerome Powell’s statement, which could dictate BTC’s direction in the coming days.
Top 5 Cryptocurrencies by Market Value
| Rank | Cryptocurrency | Price (USD) | Market Cap (USD) | 24h Change |
| 1 | Bitcoin[1] (BTC) | $116,000 | $2.28 Trillion | +1.6% |
| 2 | Ethereum[2] (ETH) | $3,280 | $393 Billion | +1.2% |
| 3 | BNB (BNB) | $645 | $94 Billion | +0.8% |
| 4 | Solana (SOL) | $182 | $83 Billion | +2.4% |
| 5 | XRP (XRP) | $0.74 | $41 Billion | +0.5% |
Bitcoin’s strong price action continues to dominate market sentiment, with traders watching closely to see if the world’s largest cryptocurrency can sustain momentum and retest new record highs before year-end.