Crypto Journalist
Anas Hassan
Crypto Journalist
Anas Hassan
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Bitcoin’s hash rate, the network’s aggregate computational power, reached a milestone of 1.12 billion TH/s on September 12, according to Bitinfocharts data.
The network difficulty, which measures the computational complexity required for miners to discover new blocks on the blockchain, is on track to reach a record peak of 136.04T
Market analysts now suggest that Bitcoin is positioned to overcome its 3-week-long resistance level at $117K.
Record Bitcoin Hash Rate and Fed Rate Cut Could Trigger $117K Breakout
An increasing hash rate shows increased computational resources being allocated to Bitcoin mining.
This typically reflects increased miner confidence, as they essentially bet that Bitcoin’s future valuation will warrant their hardware and energy costs, and it also rises proportionally with the hash rate
According to CoinWarz, the upcoming difficulty adjustment is projected for September 18, 2025, with current estimates indicating a 6.38% increase to 136.04T.
With the Federal Reserve’s highly anticipated rate decision scheduled for September 17 and risk-on markets anticipating a 25-basis-point reduction, investor sentiment on a Bitcoin $117k breakout now leans optimistic.
This perspective aligns with miner reserves climbing to a 50-day peak of 1.808 million BTC on September 9, according to CryptoQuant data, suggesting miners are maintaining their holdings rather than liquidating.
Similarly, crypto analyst Avocado Onchain identifies a fundamental shift in mining behavior and Bitcoin network resilience.
Examining the Miners’ Position Index (MPI), spikes have historically emerged under two conditions, which are pre-halving periods when miners tactically reduce holdings, and late bull market phases when they sell aggressively into fresh retail capital.
The present cycle shows a contrasting pattern, although some pre-halving distribution is obvious, as the intense late-cycle liquidations remain notably absent.
This shows that ETF inflows and Bitcoin’s adoption as a strategic treasury asset by major economies may be reshaping mining strategies. They seem to be transitioning from short-term liquidation toward long-term accumulation.
The analyst further emphasizes that mining difficulty has achieved an all-time high, with its growth trajectory forming the characteristic “Banana Zone” of steep increases.
Bitcoin Technical Analysis: Bulls Challenge $117k Resistance Wall
Bitcoin analysts have identified $117,200 as the key resistance level for the price to overcome, which corresponds with a CME gap.
Should BTC decisively reclaim this threshold, pathways toward new all-time highs above $124k would emerge.
In the event of rejection, BTC could retreat to monthly lows with liquidity concentrations around the $108K-$112K range.
The FOMC meeting approaches next week, with a 25-basis-point rate cut anticipated.
Market direction will hinge on Powell’s commentary and the Fed’s perspective on inflation and employment metrics.
If Powell emphasizes inflation concerns, BTC might decline to test the $112k liquidity zone.
From a technical perspective, the Bitcoin 4-hour chart displays price recovering within a trading range following several unsuccessful attempts to sustain levels above the $119,000 resistance area.
The wedge formation that previously supported the upward trend has now deteriorated, with repeated false breakouts confirming selling pressure at elevated levels.
The price currently trades around $115,400, which is near the range’s upper limit, where resistance has historically prompted corrections.
With support established around $107,700, the chart indicates a probable rejection at current levels, favoring a decline toward the range’s lower boundary unless buyers achieve a convincing breakout above $119,000.
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