Bitcoin Holds Steady Above $116K as Analysts Eye “Uptober” Rally – 17/9/2025
Bitcoin (BTC) traded at $116,236 as of 14:04 UTC on Sept. 17, rising about 1% over the past 24 hours and holding key support levels ahead of the Federal Reserve’s policy announcement. Two crypto analysts highlighted BTC’s relative underperformance against gold and the S&P 500, along with historical seasonal trends, as reasons for optimism.
Analyst Insights
Dean Crypto Trades noted on X that bitcoin is only roughly 7% above its post-election local peak, compared with 9% gains for the S&P 500 and 36% for gold over the same period. He suggested that BTC’s compressed price action makes 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 pointed to bitcoin’s performance around September FOMC meetings, observing that every September decision since 2020—except during the 2022 bear market—has preceded a strong BTC rally. He emphasized that this trend is driven more by seasonal dynamics than the Fed’s rate choice, positioning BTC for a potential “Uptober” boost.
Technical Analysis
CoinDesk Research data shows BTC rising about 0.9% from $115,461 to $116,520 between Sept. 16 and 17, reaching an intraday high of $117,317 at 07:00 UTC before consolidating. The $116,400–$116,600 range has repeatedly held as short-term support. A breakout attempt late in the session saw BTC spike to $116,551 on higher volume, confirming a modest consolidation-breakout pattern.
Bitcoin remains firm above $116,000, with support near $116,400 and resistance around $117,300.
Chart Trends
The 24-hour chart shows BTC consolidating in the $116,000–$116,500 band after retreating from highs near $117,295. Over the past month, bitcoin climbed from lows near $108,000 in late August to recent highs above $117,000. While the overall trend remains bullish, recent consolidation suggests a pause before the next move.
