MEXCBitcoin News Today: Key Indicator Turns Bearish to Neutral Ahead of Fed Rate Cut Expectations, Court Rejects Trump Appeal
Highlights
- Bitcoin Bull Score Index indicates Bitcoin sentiment switches back to 'neutral' from 'bearish.'
- Court blocks President Trump from firing Fed Governor Lisa Cook before the FOMC meeting.
- BTC price holds above $115K as traders await Fed rate cut on September 17.
In the most significant Bitcoin news today, the key indicator has turned ‘neutral’ from ‘bearish’ ahead of the highly anticipated Fed rate cut. This coincided with a court rejecting President Donald Trump’s request to fire Fed Governor Lisa Cook before the FOMC meeting.
Bitcoin News Today: Sentiment Shifts to Neutral from Bearish
Bitcoin sentiment switches back to ‘neutral’ from ‘bearish’, according to Julio Moreno, head of research at CryptoQuant, on September 16. The Bitcoin Bull Score Index, a key on-chain indicator of market sentiment, signals neutral sentiment for the first time since late August ahead of an anticipated Fed rate cut.
Notably, Bitcoin broke multiple key support levels in late August that triggered a crash below $108K from $120K. Now, the Bitcoin Bull Score Index is up from 20 to 50 in the last few days. The index needs to climb above 60 to signal bullish conditions.
Meanwhile, the Crypto Fear & Greed Index also rises to 52 (neutral) from 48 (neutral) last week. The increase in key sentiment indexes ahead of the much-awaited Federal Reserve rate cut signals a further recovery in Bitcoin and the crypto market.
However, investors would likely wait for the U.S. Federal Reserve to announce a 25 bps or bigger rate cut on September 17 to confirm market direction.
BTC Holds Above $115K as Court Eases Fed Concerns
The U.S. District Court for the District of Columbia again stopped President Trump from firing Fed Governor Lisa Cook before the FOMC meeting. The latest step in a legal battle that threatens the Fed’s longstanding independence.
As CoinGape reported on Monday, District Judge Jia Cobb granted a temporary restraining order to pause Trump’s decision to remove Fed Governor Lisa Cook from the Board of Governors. The court urged defendants Fed Chair Jerome Powell and the Board of Governors of the Federal Reserve System to provide Lisa Cook all rights to her office and voting in the FOMC meeting.
Meanwhile, the Senate has confirmed Trump’s pick Stephen Miran as the new Fed Governor. He will vote with members of the Board of Governors during the FOMC meeting.
Bitcoin holds above $115K as traders await the Fed’s monetary policy decision tomorrow. BTC trading within the intraday low and high of $114,461 and $116,747, respectively. Trading volume rises 54% over the last 24 hours.
- Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
