US Interest Rate Drops, Bitcoin Price Can Reach IDR 2 Billion Again?

JAKARTA - Bitcoin (BTC) prices are moving relatively stable and tend to rise slightly after the Federal Reserve (The Fed) cut the benchmark interest rate by 25 basis points to the range of 4.25%'4.50%.

Based on CoinGecko data, six hours after the announcement, Bitcoin was trading close to $17,000, before returning to US$16,600 (Rp1.91 billion).

Tokocrypto analyst, Fyqieh Fachrur, assessed the stability of the Bitcoin price after the Fed's decision to show that the market had anticipated the cuts.

"This reduction does not give an instant price spike, because most of it has been taken into account by the market," Fyqieh said in a statement on Thursday, September 18.

According to him, investor focus is now shifting to the next policy direction. If the Fed returns to lower interest rates at the next meeting, global liquidity will increase.

"This has the potential to encourage Bitcoin to penetrate the new resistance level in the range of US$120,000 or around Rp1.98 billion," said Fyqieh.

He explained that the history of Bitcoin movement shows that cut interest rates does not always lead to price rallies. In fact, market euphoria is often followed by massive selling actions.

The last time the Fed cut interest rates was on December 18, 2024, the price of Bitcoin was around US$106,000 (Rp1.75 billion) before it slumped 30% in the following weeks.

"Now, with BTC again perched above $ 17,000, market participants remain cautious about the potential for a similar pattern to repeat," he added.