JAKARTA - The price of Bitcoin (BTC) has again shown its strength by breaking through the level of US$112,000 or around Rp1.84 billion in trading Wednesday, September 3 night.
This movement comes amid growing market optimism ahead of the Fed's interest rate decision scheduled for September 17.
Tokocrypto analyst, Fyqieh Fachrur, believes that although "Red September" overshadows, this year's macroeconomic factor has the potential to change market direction.
According to him, Bitcoin is currently testing strong support in the range of US$105,000-110,000 (Rp1.72 - Rp1.8 billion). If this area is able to survive, the risk of falling below US$100,000 (Rp1.64 billion) is relatively small.
"On the other hand, the rebound opportunity is quite open, especially with the expectations of cutting the Fed's interest rate which reaches an 87% probability according to the CME FedWatch," explained Fyqieh.
la menambahkan bahwa kebijakan moneter yang lebih lebih lax biasanya melemahkan dolar AS dan mendorong aliran likuiditas global ke aset berisiko, termasuk kripto.
Fyqieh stated that support from macro momentum and the increasing flow of institutional funds through the Bitcoin spot ETF could strengthen the bullish narrative.
"We see the target of US$115,000 (Rp1.89 billion) to US$120,000 (Rp1.97 billion) at the end of September remains realistic," he added.
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According to Fyqieh, there are several factors that will determine the direction of the Bitcoin price this month. For example, the Fed's decision on interest rates, increasing capital flow due to the weakening of the US dollar, as well as institutional trends.
In addition, the seasonal pressure of "September effect" is still looming, but the post-correction rebound trend in August could be the foundation of positive movement.
Overall, although the market is currently moving sideways and full of caution, we see that the prospects for Bitcoin in September 2025 are not entirely bearish. Instead, there is a great opportunity to break the 'Red September' curse for the third year in a row," concluded Fyqieh.
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