Bitcoin Could See an “Uptober” Upswing, Analyst Claims Ahead of FOMC Meeting

Bitcoin Holds Steady Above $116K as Analysts Eye “Uptober” Rally – 17/9/2025

Bitcoin (BTC) climbed to a high of $117,317 on Wednesday, settling around $116,236 as of 14:04 UTC, up roughly 1% over 24 hours. The cryptocurrency remains above key support levels as markets await the U.S. Federal Reserve’s interest-rate decision, widely expected to include a 25-basis-point cut.

Two prominent analysts are highlighting factors that could drive BTC higher. Dean Crypto Trades noted that bitcoin has only risen about 7% above its post-election local peak, compared with a 9% gain for the S&P 500 and a 36% surge in gold. He argued that BTC’s relative compression makes it poised for the next major move, though a “lower high” could form before a breakout. Ether (ETH) may follow once it surpasses $5,000 and enters price discovery.

Lark Davis pointed to bitcoin’s historical performance around September FOMC meetings, observing that every September decision since 2020—except during the 2022 bear market—has preceded a strong BTC rally. He stressed the pattern is driven more by seasonal trends than rate decisions, positioning BTC for the so-called “Uptober” boost.

Technical and Market Insights

CoinDesk Research shows BTC trading between $116,000–$116,500 over the past 24 hours, consolidating after hitting the session high of $117,317. A brief breakout attempt around 12:34 UTC, reaching $116,551 on increased volume, confirms a consolidation-breakout pattern, though gains remain modest. Support sits near $116,400, with resistance around $117,300.

Over the past month, bitcoin climbed from lows near $108,000 in late August to recent highs above $117,000. While the trend remains upward, recent consolidation suggests a pause before the next major move.

Altcoins are benefiting from bitcoin’s limited volatility. Bitcoin dominance has slipped to 57%, the lowest since January, signaling capital rotation into more speculative tokens. The average crypto RSI of 45.47 suggests several altcoins are edging into oversold territory, setting the stage for potential upside. Historical dips in BTC dominance to 33% in 2017 and 40% in 2021 indicate altcoins may still have room to run before a renewed BTC rally draws capital back.