PANews reported on September 17th that, according to Cointelegraph, Bitfinex analysts stated that Bitcoin has formed new resistance near $116,000, which may remain stagnant until it regains upward momentum. However, two potential catalysts could boost its price. A report on Tuesday showed that BTC is trading at the upper limit of the $116,000 range, which remains a resistance level until it recovers. Since reaching a new high of $124,100 on August 14th, Bitcoin's upward momentum has weakened, with the price falling below the recent high buyer's cost.

Bitcoin has rebounded slightly over the past seven days, coinciding with the Federal Reserve's interest rate announcement on Wednesday. Markets are pricing in a 96.1% probability of a 25 basis point cut, but opinions on Bitcoin's future after the cut are mixed. While a Fed rate cut is positive for risk assets, prices could still decline if the market has already priced it in. Furthermore, the market is focused on October 1st, the start of the fourth quarter of 2025, historically Bitcoin's best quarter. Meanwhile, analysts say long-term holder confidence remains strong, with the recent sell-off primarily driven by buyers from the past six months. Investors who accumulated between February and May have already taken profits on the rebound, hindering upward momentum.