--- title: "Bitcoin Unmoved By Fed Rate Cut; Ethereum, XRP, Dogecoin Spike: Analyst Says BTC Should See $120,000 By End Of Week If 'All Goes To Plan'" type: "News" locale: "en" url: "https://longbridge.com/en/news/257822468.md" description: "Bitcoin remained stagnant around $116,000 despite the Federal Reserve's first interest rate cut of the year. In contrast, Ethereum surged past $4,600, while XRP and Dogecoin saw gains of 1.24% and 4.40%, respectively. The cryptocurrency market capitalization rose to $4.08 trillion. Analysts predict Bitcoin could reach $120,000 by the week's end, with a bullish trend indicated for Ethereum. The Fed's rate cut to 4.00%-4.25% suggests potential further cuts ahead, impacting market dynamics." datetime: "2025-09-18T01:58:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/257822468.md) - [en](https://longbridge.com/en/news/257822468.md) - [zh-HK](https://longbridge.com/zh-HK/news/257822468.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/257822468.md) | [繁體中文](https://longbridge.com/zh-HK/news/257822468.md) # Bitcoin Unmoved By Fed Rate Cut; Ethereum, XRP, Dogecoin Spike: Analyst Says BTC Should See $120,000 By End Of Week If 'All Goes To Plan' **Bitcoin** failed to break out of its range, but other major coins rose on Wednesday as the Federal Reserve implemented its first interest rate cut of the year. ## **Bitcoin** Stuck Despite Fed Rate Cut Bitcoin slipped below $117,000 and consolidated in the $116,000 region. **Ethereum**, on the other hand, broke past $4,600, with trading volume climbing 51% in the 24-hour period. **XRP** and **Dogecoin** spiked 1.24% and 4.40%, respectively. Bitcoin's dominance dropped below 57%, while capital rotated to altcoins, boosting their market share to 30%. Over $350 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders losing $188 million. That said, about $400 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rebounds to $118,000. Bitcoin’s open interest fell 1.01% in the last 24 hours. Despite this, over 54% of Binance derivatives traders with open BTC positions were long as of this writing. Interestingly, Binance traders with open BTC positions flipped bearish, with more than 52% betting against the coin, according to the Long/Short ratio. **Top Gainers (24 Hours)** The global cryptocurrency market capitalization stood at $4.08 trillion, increasing by 0.81% in the last 24 hours. ## Dow Gains After Fed Rate Cut, Dovish Guidance Stocks were a mixed bag on Wednesday. The **Dow Jones Industrial Average** rallied 260.42 points, or 0.6%, at 46,018.32. The **S&P 500**, on the other hand, closed down 0.1% at 6,600.35, while the tech-heavy **Nasdaq Composite** fell 0.3% to 22,261.32. The Federal Reserve delivered its first rate cut of the year, slashing its benchmark interest rate by 25 basis points to 4.00%-4.25%. The Summary of Economic Projections now predicts a federal funds rate of 3.6% by the end of 2025, down from the 3.9% median forecast in June, implying that more cuts may be on the way. ## Bitcoin Primed For $120,000? **IncomeSharks**, a widely followed X account dedicated to stock and cryptocurrency analysis, expected Bitcoin to hit $120,000 by the end of the week or during the weekend. A similar forecast was made by technical analyst **CrypNuevo**, who predicted Bitcoin to hit $120,000 next. Web3 commentator **ZYN** highlighted a “bullish cross” on Ethereum’s price chart. ETH surged 60% and 24% in July and August, respectively, after similar formations, the analyst said, adding that a repeat could push the coin above $5,000 this month. A bullish cross is formed when a short-term moving average crosses above a long-term moving average, signalling a potential bullish trend. - **XRP Whales Offload 200 Million Ahead Of ETF Launch: What Do They Know?** _Photo Courtesy: OMG\_Studio on Shutterstock.com_ ### Related Stocks - [Grayscale Ethereum Staking ETF (ETHE.US)](https://longbridge.com/en/quote/ETHE.US.md) - [BTC/HKD (BTCHKD.VAHK)](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTC/USD (BTCUSD.VAHK)](https://longbridge.com/en/quote/BTCUSD.VAHK.md) - [ETH/HKD (ETHHKD.VAHK)](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [ETH/USD (ETHUSD.VAHK)](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [DOGE/USD (DOGEUSD.VAHK)](https://longbridge.com/en/quote/DOGEUSD.VAHK.md) ## Related News & Research - [Eightco Reports $326M Total Holdings Including 277.2M Worldcoin, $90M OpenAI Stake](https://longbridge.com/en/news/281191320.md) - [Mark Zuckerberg texted Elon Musk to offer help with DOGE](https://longbridge.com/en/news/280887963.md) - [BTC miners are collectively turning to Bitcoin.](https://longbridge.com/en/news/281160892.md) - [Peter Schiff Sounds Alarm On Bitcoin-Backed Mortgages](https://longbridge.com/en/news/280834905.md) - [Bitmine Reports $10.7B Crypto + Cash Treasury, 4.732M ETH and 3.14M Staked ETH via MAVAN](https://longbridge.com/en/news/281024377.md)