Key points:
Bitcoin breaks through its volume-weighted average price (VWAP), echoing the rebound from April’s sub-$75,000 lows.
Stocks see fresh all-time highs as markets digest the Fed rate cut.
Liquidity suggests that volatility is incoming as BTC price targets $118,000.
Bitcoin (BTC) eyed $118,000 at Thursday’s Wall Street open as stocks hit new all-time highs.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Bitcoin breakout sets the stage for new all-time highs
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating daily gains above key resistance.
The first US trading session after the Federal Reserve enacted its first interest-rate cut of 2025 saw both the S&P 500 and Nasdaq Composite Index hit fresh records.
BTC/USD vs. S&P 500 one-day chart. Source: Cointelegraph/TradingView
Reacting, trading resource The Kobeissi Letter saw the risk-asset uptrend continuing into next year.
“2025 now marks the 3rd year since 1996 where rate cuts have happened with the S&P 500 at record highs. The previous 2 years? 2019 and 2024,” it observed in part of its latest analysis on X.
“When the Fed cuts rates within 2% of all time highs, the S&P 500 has risen an average of +14% in 12 months.”XAU/USD one-hour chart. Source: Cointelegraph/TradingView
Gold saw further volatility after beating all-time highs of its own the day prior, with $3,700 the level in focus.
Bitcoin bulls meanwhile attempted to cement $117,000 as support while staring down the final block of resistance before price discovery.
$BTC – #Bitcoin is looking really interesting right now.
It’s trying to reclaim the ~$117K level.
Once we gain this level the way to $120K is open in my opinion.
However: Last time we rejected this level and came all the way back to the light blue zone. pic.twitter.com/zHxQzst0V4
— Crypto Caesar (@CryptoCaesarTA) September 18, 2025
Caleb Franzen, creator of financial research resource Cubic Analytics, saw BTC/USD repeating a bullish pattern from May.
Then, as now, price broke above its volume-weighted average (VWAP) as measured from its latest all-time high.
“It’s almost like good things have…
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