{"content":"Bitcoin Targets $120K 🚀 – FOMC Dovish Stance Fuels Bullish Momentum After recovering from crucial support the day before, bitcoin trades over $117,000 on Thursday. On-chain statistics show retail-driven equilibrium with little whale activity, allowing a slow rise above $120,000. After recovering from crucial support, Bitcoin (BTC) is trading above $117,000 on Thursday. The rise followed Wednesday's 25-bps Fed rate decrease. Additionally, the potential of more cutbacks later this year boosted bitcoin market risk-on attitude. As whale activity remains low, on-chain data implies regular investors are directing the market, setting conditions for a sustained increase that might see BTC reach $120,000. Bitcoin exceeds $117,000 after the Fed's 25 bps rate decrease. Bitcoin price hovers around $117,000 in Thursday's European session after rebounding from $116,000 after the FOMC's 25 bps rate decrease on Wednesday boosted crypto market risk appetite. As explained in the previous report, market participants expected the 25 bps rate cut, but attention focused on the FOMC's latest Summary of Economic Projections (SEP), or dot plot, which predicts interest rates will average 3.6% by 2025, down from 3.9% in June. On-chain statistics reveal retail-driven market CryptoQuant statistics show that Bitcoin trading on Binance, the biggest exchange, shows no major whale inflows, indicating that people drive the market rather than massive wallets. The graph below reveals that (0 to 0.001) BTC wallets received 97,000 BTC and inflows of 719,000 BTC. This accumulation trend shows that individual investors are driving demand with small-volume transactions, enabling a slow rise toward $120,000. A rapid surge in whale activity might cause a market downturn and change direction, so traders should be wary. SoSoValue data reveals that Bitcoin spot ETFs had a $51.28 million outflow on Wednesday, ending their run of inflows since September 8. #FedRateCut25bps #AltcoinSeasonComing? #BitcoinETFMajorInflows #StrategyBTCPurchase #Write2Earn ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025092025/09/18/b13095df4bae4bb39a716892317dbe9c.png"],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}