Bitcoin Holds Above $116K as Analysts Point to “Uptober” Rally – 17/9/2025
Bitcoin (BTC) traded at $116,236 as of 14:04 UTC on Sept. 17, up roughly 1% over the past 24 hours, maintaining key support levels ahead of the Federal Reserve’s policy announcement. Two prominent crypto analysts cited BTC’s underperformance relative to gold and the S&P 500, as well as historical seasonal trends, as reasons for optimism.
Analysts’ Perspectives
Dean Crypto Trades highlighted on X that bitcoin is only about 7% above its post-election local peak, compared with a 9% gain for the S&P 500 and a 36% surge for gold. He noted that bitcoin’s price has compressed more than these assets, making it likely to lead the next significant move, though a “lower high” could form before a breakout. Dean added that ether (ETH) could follow once it surpasses $5,000 and enters price discovery.
Lark Davis focused on BTC’s historical performance around September FOMC meetings, noting that every September decision since 2020—except during the 2022 bear market—has preceded a strong rally. He emphasized that the pattern is driven more by seasonal dynamics than by the Fed’s rate choice, suggesting bitcoin tends to thrive heading into “Uptober.”
Technical Analysis
According to CoinDesk Research, BTC rose roughly 0.9% from $115,461 to $116,520 between Sept. 16 and 17, peaking at $117,317 at 07:00 UTC before consolidating. The $116,400–$116,600 range has held as short-term support. A breakout attempt in the final hour of the session, between 11:39 and 12:38 UTC, saw BTC briefly spike to $116,551 on higher volume, confirming a modest consolidation-breakout pattern.
Overall, bitcoin remains firm above $116,000, with resistance near $117,300.
Chart Trends
The latest 24-hour chart shows BTC consolidating in the $116,000–$116,500 range after retreating from intraday highs around $117,295. The one-month chart highlights an upward trajectory, with bitcoin climbing from lows near $108,000 in late August to recent highs above $117,000. While the overall trend is bullish, short-term consolidation suggests the market is pausing before its next potential move.
