Bitcoin Price Analysis: BTC Steady Above $115,000 As FOMC Meeting Gets Underway

Bitcoin (BTC) is holding on to the $115,000 price level despite volatility and a slight correction as the crucial Federal Open Market Committee (FOMC) meeting gets underway. Analysts expect the Federal Reserve to announce a 25 bps rate cut, boosting investor appetite for risk assets like BTC .

The $113,000 level has emerged as a key support level, with new investors absorbing whale supply. Capital Group Makes Big Bet On Bitcoin (BTC) Capital Group, one of the most prominent mutual fund powerhouses, has grown a $1 billion position in Bitcoin-related stocks into more than $6 billion.

The company is known for its conservative investment approach. Mark Casey, portfolio manager at Capital Group, led the company’s foray into Bitcoin .

Casey has become a big proponent of the flagship cryptocurrency, stating during a recent podcast, “I just love Bitcoin, I just think it is so interesting. It is one of the coolest things that has ever been created by people.

” The company’s most notable holdings are in Michael Saylor’s Strategy. Capital Group acquired a 12.

3% stake in the company for over $500 million in 2021. The stake, now diluted to 7.

89%, is worth $6. 2 billion, thanks to a 2,200% surge in the company’s stock.

The company’s Bitcoin exposure also includes a 5% stake in Japan’s Metaplanet. Corporate Bitcoin treasuries now hold over $1 million BTC , with Saylor’s Strategy the top holder.

Strategy has over 636,505 BTC , followed by MARA Holdings, with over 52,000 BTC . Strategy Makes Latest Bitcoin (BTC) Purchase Michael Saylor’s Strategy has acquired 525 BTC for $60.

2 million, according to a filing with the United States Securities and Exchange Commission (SEC). The company completed its latest purchase between September 8 and 14, for an average of $114,562 per coin.

The company stated that the purchase was not funded by operational earnings but by the execution of its capital markets strategy, utilizing proceeds from the sale of three distinct classes of its perpetual stock. According to the SEC filing, Strategy sold shares of its Series A Perpetual Strife Preferred Stock (STRF), Series A Perpetual Strike Preferred Stock (STRK), and Series A Perpetual Stride Preferred Stock (STRD) to fund the latest acquisition.

Lawmakers Reach Out To Saylor To Advance Bitcoin Reserve U. S.

lawmakers are meeting with several crypto industry executives, including Strategy's Michael Saylor, to discuss how Congress can move forward with the Strategic Bitcoin Reserve. The list of executives also includes Fundstrat CEO Tom Lee, Chairman of BitMine, and MARA CEO Fred Thiel.

Industry executives will hold discussions with lawmakers and look to build momentum behind the BITCOIN Act, introduced by US Senator Cynthia Lummis in March. The bill calls on the US government to acquire 1 million BTC over five years.

Executives will pitch ideas around how the US government can purchase additional Bitcoin without impacting taxpayers. “The focus will be on ensuring the Strategic Bitcoin Reserve is advanced in a budget-neutral way and building the coalition needed to move the BITCOIN Act forward.

” Bitcoin (BTC) Price Analysis Bitcoin (BTC) held above the $115,000 level as it heads into a crucial week, with the Federal Reserve expected to announce a rate cut following the FOMC meeting. The flagship cryptocurrency reached an intraday high of $116,833 on Friday but lost momentum over the weekend, ending Sunday at $115,314.

It faced volatility on Monday as buyers and sellers struggled to establish control. The current session sees BTC marginally up, trading around $115,775.

According to analysts, the Federal Open Market Committee (FOMC) meeting and the expectation of interest rate cuts on Wednesday could boost markets. However, BTC is undergoing a mild correction.

The flagship cryptocurrency fell to an intraday low of $114,395 on Monday, and analysts believe current price action presents a good buying opportunity. From a technical point of view, BTC’s critical retest zone is between $111,000 and $113,000, mirroring the price structure seen in Q2, when the price rallied from below $100,000 to $109,000, consolidating just before resistance levels.

A similar pattern could develop if BTC stays above $113,000. A drop below this level could weaken the bullish case, while stability could indicate another breakout.

Meanwhile, asset management firm Fidelity believes around 42% of Bitcoin’s current circulating supply could become illiquid by 2032. In its report, Fidelity identified two groups whose supply could be considered illiquid, based on the assumption that their Bitcoin supply has ticked up each quarter or at least 90% of the time.

Fidelity found two cohorts based on this assumption: Long-term Bitcoin holders and publicly-traded companies holding at least 1,000 BTC . Fidelity stated in its report, “We estimate that this combined group will hold over six million Bitcoin by the end of 2025 — or over 28% of the 21 million Bitcoin that will ever exist.

” BTC faced volatility over the past weekend as it reached an intraday high of $113,390 on Friday (September 5). However, it failed to stay at this level and settled at $110,670, ultimately registering a marginal decline.

Sellers retained control on Saturday as the price fell 0. 41%.

BTC recovered on Sunday, rising nearly 1% to end the weekend at $111,129. The price continued pushing higher on Monday, rising 0.

85% to cross $112,000 and settle at $112,072. However, it lost momentum on Tuesday, dropping 0.

47% to $111,547. Positive sentiment returned on Wednesday as BTC rallied, rising over 2% to cross $113,000 and settle at $113,983.

Source: TradingView Buyers retained control on Thursday as BTC rose 1. 37%, crossing $115,000 and settling at $115,540.

The price continued pushing higher on Friday, rising 0. 49% to cross $116,000 and settle at $116,106.

Despite the positive sentiment, price action turned negative over the weekend as BTC registered a marginal decline on Saturday and fell 0. 56% on Sunday, ending the day at $115,314.

BTC faced volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase.

BTC is marginally up during the ongoing session, trading around $115,855 after recovering from an intraday low of $114,750. Disclaimer: This article is provided for informational purposes only.

It is not offered or intended to be used as legal, tax, investment, financial, or other advice.