CryptoQuant&#8217;s Bitcoin Bull Score Index has jumped from 20 to 50 in just four 
days, suggesting a swift shift out of bearish territory for the asset. Bitcoin 
Bull Score Index Is Back In Neutral Region In a new post on X, CryptoQuant 
head of research Julio Moreno has talked about the latest trend in the 
analytics firm&#8217;s Bull Score Index. This indicator basically tells us about 
which phase of the market Bitcoin is in right now. The index combines the data 
of several key on-chain metrics to determine its value. Some of these 
indicators include the Market Value to Realized Cap (MVRV) Ratio, keeping 
track of average investor profitability on the network, and the Stablecoin 
Liquidity, measuring the amount of capital stored in the form of fiat-tied 
tokens. Related Reading: Bitcoin Inflows In Last 1.5 Years Surpassed First 15 
Years Combined: Data When the Bull Score Index has a value of 60 or higher, it 
means the majority of the underlying metrics are currently giving a bullish 
signal. On the other hand, the metric&#8217;s value being 40 or lower implies BTC is 
in a bear phase according to its indicators. Now, here is the chart shared by 
Moreno that shows the trend in the Bitcoin Bull Score Index over the past 
year: As is visible in the above graph, the Bitcoin Bull Score Index was 
sitting at a low of just 20 four days ago, but since then, its value has 
witnessed a sharp climb to the 50 level. This means that on-chain metrics are 
signaling neutral market conditions for the asset now. This shift comes just 
as the Federal Open Market Committee (FOMC) kicks off its two-day meeting on 
Tuesday. BTC price itself has taken to sideways movement ahead of it, 
indicating that the market is divided about the event&#8217;s outcome. Analytics 
firm Santiment has shared in an X post about how social media users are 
reacting to the meeting. In the chart, Santiment has attached the data of the 
&#8220;Positive/Negative Sentiment,&#8221; an indicator that compares the bullish and 
bearish posts related to Bitcoin that are appearing on the major social media 
platforms. This metric has surged recently and hit the 1.77 mark, suggesting 
that there are 1.77 positive comments being made for every negative comment 
related to the cryptocurrency. This is the most bullish that retail traders 
have been on social media in around 10 weeks. Related Reading: XRP Bearish 
Signal: Whales Offload $486 Million In Asset While some excitement can be 
normal, an excess of it isn&#8217;t usually a positive sign. As the analytics firm 
explains, &#8220;historically, markets move in the opposite direction of retail&#8217;s 
expectations.&#8221; BTC Price At the time of writing, Bitcoin is trading around 
$115,700, up more than 2.5% over the last week. Featured image from Dall-E, 
Santiment.net, CryptoQuant.com, chart from TradingView.com

Bitcoin Bull Score Sees Sharp Jump, No Longer Signals Bear Phase

Bitwise’s Matt Hougan says a more straightforward SEC listing process could 
lead to more crypto ETFs, but that doesn&#8217;t mean they&#8217;ll all attract money.

SEC listing rules to boost crypto ETFs, but no guarantee of inflows: Bitwise

Canadians just got a bold new way to earn passive income, as Coinbase unveils 
weekly 4.1% USDC rewards—paid automatically with zero lockups or restrictions. 
Coinbase Rolls out Weekly USDC Rewards in Canada Crypto exchange Coinbase 
(Nasdaq: COIN) announced on Sept. 16 that Canadians can now earn rewards on 
holdings of USD Coin (USDC). The company […]

Coinbase Launches 4.1% USDC Rewards for Canadians Amid Criticism of 0% Bank Rates

Bitcoin price is moving higher above $116,200. BTC is now consolidating and 
might gain bullish momentum if it clears the $116,850 resistance zone. Bitcoin 
started a fresh increase above the $116,000 zone. The price is trading below 
$116,000 and the 100 hourly Simple moving average. There was a break above a 
contracting triangle with resistance at $115,750 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair might start another increase if 
it clears the $116,850 zone. Bitcoin Price Hits Resistance Bitcoin price 
started a fresh upward wave above the $114,500 zone. BTC managed to climb 
above the $115,000 and $115,500 resistance levels. The bulls were able to push 
the price above $116,200 and $116,500. Besides, there was a break above a 
contracting triangle with resistance at $115,750 on the hourly chart of the 
BTC/USD pair. The price traded as high as $116,959 and is currently 
consolidating gains. It is stable above the 23.6% Fib retracement level of the 
recent move from the $114,156 swing low to the $116,959 high. Bitcoin is now 
trading above $116,000 and the 100 hourly Simple moving average. Immediate 
resistance on the upside is near the $116,850 level. The first key resistance 
is near the $117,200 level. The next resistance could be $117,500. A close 
above the $117,500 resistance might send the price further higher. In the 
stated case, the price could rise and test the $118,400 resistance level. Any 
more gains might send the price toward the $118,800 level. The next barrier 
for the bulls could be $119,250. Another Decline In BTC? If Bitcoin fails to 
rise above the $116,850 resistance zone, it could start a fresh decline. 
Immediate support is near the $116,250 level. The first major support is near 
the $115,550 level or the 50% Fib retracement level of the recent move from 
the $114,156 swing low to the $116,959 high. The next support is now near the 
$115,200 zone. Any more losses might send the price toward the $114,500 
support in the near term. The main support sits at $112,500, below which BTC 
might decline heavily. Technical indicators: Hourly MACD – The MACD is now 
gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The 
RSI for BTC/USD is now above the 50 level. Major Support Levels – $115,550, 
followed by $115,200. Major Resistance Levels – $116,850 and $117,200.

Bitcoin Price Back at Resistance – Fed Meeting Could Trigger Big Move

With the Federal Reserve set to announce policy on Wednesday, September 17, a 
closely followed trader has laid out a precise, level-by-level playbook for 
navigating Bitcoin’s next move. In his weekly “Market Outlook #51,” published 
on September 15, Nik Patel (@cointradernik) for Ostium Research maps out both 
long and short triggers around a tight cluster of resistance at $117.5k–$120k 
and a “line in the sand” support at $112k—frameworks he argues should contain 
BTC’s path through the FOMC and into quarter-end. How To Trade Bitcoin Into 
September FOMC Nik’s higher-timeframe read starts with a strong weekly close 
that reclaimed the August open near $115.3k and, crucially, kept price above 
$112k. “This is now the line in the sand for short-term bullishness,” he 
writes, warning that a weekly close back below would reopen the route to 
July’s local lows around $107k and, in a deeper flush, the $99k swing low. To 
the upside, he highlights $117.5k as the next inflection; a clean acceptance 
over $120k would set up a swift run at all-time highs, where $123k is the 
first major cap on the daily timeframe. Into the event, his directional bias 
remains conditional rather than dogmatic. On the long side, he favors a 
liquidity sweep early in the week: “On the long side you want to see a sharp 
flush lower… into $113.5k, where you could layer bids with invalidation on a 
daily close below $112k,” aiming for a reaction back to $117.5k (TP1) and 
$119k (TP2) into the FOMC. Related Reading: Analyst Raises Red Flags On 
Bitcoin Price: Allegations Of Market Manipulation Conversely, if BTC grinds 
higher without that flush, his short plan is to “short above $119k pre-FOMC,” 
then “add… on acceptance back below $117.5k post-FOMC,” with $112k as the 
first target and scope to trail for lower lows if structure weakens. The 
trader concedes the next couple of weeks are “a lot more unclear… with many 
variables,” but his base case still envisions “the second half of Q4 will be 
very strong.” The setup lands as BTC churns around $115k ahead of the 
decision—a zone multiple analysts have framed as pivotal. Heading into the 
weekly close, market commentary stressed that a sustained reclaim of ~$114k is 
a prerequisite for renewed momentum, with one widely tracked technician 
arguing, “The goal isn’t for Bitcoin to break $117k… The goal is for Bitcoin 
to reclaim $114k into support first.” Over the weekend and into Tuesday, BTC’s 
price action remained pinned in that band, keeping both the upside break 
toward $119k–$123k and the downside sweep into $113.5k–$112k on the table. 
Related Reading: Bitcoin Set For Short Squeeze Before Long Trap In October 
Macro context heightens the stakes. Markets broadly expect the Fed to cut its 
policy rate by 25 bps on September 17, shifting the target range from 4.50% to 
4.25%—a baseline Nik explicitly builds into his calendar. Yet traders are 
equally focused on Chair Jerome Powell’s guidance and the updated “dot plot,” 
which will shape the path for additional cuts into year-end. While a cut is 
priced, the tone—whether the Fed signals a shallow or accelerated easing 
path—could be the catalyst that resolves BTC’s tight $114k–$119k coil. 
Positioning provides further texture to Nik’s plan. He flags three-month 
annualized basis and the split between Bitcoin and altcoin open interest, 
along with concentrated one-week and one-month liquidation pockets just below 
spot and above the recent range highs—context for why he prefers either 
reactive longs on a downside flush or fades into strength near $119k–$120k if 
derivatives chase the move. The framework leans heavily on 
acceptance/rejection around well-defined levels rather than attempting to 
front-run the policy outcome itself. Bottom line: in the Ostium playbook, 
bulls want a controlled dip that holds $112k on a daily closing basis and then 
forces a reclaim of $117.5k on the way to $119k–$123k; bears get their best 
shot if price runs late into $119k–$120k pre-FOMC and then loses $117.5k on 
the reaction. With BTC glued to the mid-$110ks and the market already bracing 
for a quarter-point cut, the catalyst may come down to Powell’s nuance. At 
press time, BTC traded at $115,427. Featured image created with DALL.E, chart 
from TradingView.com

Cryptocurrency price in CNY