The night of the Fed's interest rate cut is approaching, which is an important moment for Bitcoin investors. Looking back, the Bitcoin market's reaction to the Fed's interest rate cuts has been inconsistent. In 2019, Bitcoin's price experienced a big pump before the interest rate cut, but after the announcement, there was a significant pullback, demonstrating a typical 'fully priced-in good news' phenomenon.

However, the situation in 2024 is different. Although the market expects to repeat the pattern of 2019, due to the active participation of institutional investors and the impact of some political factors, Bitcoin has not only not declined but instead has risen by 30%.

Looking ahead to September 2025, the market may face two scenarios: if Bitcoin breaks through $115,000 before the interest rate cut, it is likely to replay the script of 2019, where a pullback occurs after the news is announced; if the price oscillates between $100,000 and $105,000, it indicates that market expectations are more rational, and it may continue to rise to $115,000 after the interest rate cut.

Therefore, the price level of $105,000 has become a key observation point. At the same time, the speech by Fed Chair Powell is also worth noting, especially whether he will signal continued easing, which will directly affect the confidence of Bitcoin bulls.

In the short term, the price fluctuations in September may not be too drastic. However, in the long run, the outlook for Bitcoin remains optimistic. Whether it can break through the $120,000 mark by the end of the year will depend on multiple factors, including October's CPI data, changes in large enterprises' positions, and the geopolitical situation in the Middle East.

For interested investors, it is advisable to closely monitor market dynamics and stay informed of the latest news in order to make informed decisions in the cryptocurrency market.