Bitcoin (BTC) has been correcting since September 14, but this may soon reverse, influenced by the upcoming US Fed rate cut decision on September 18 and Tether's recent minting of $1 billion USDT. Tether's move historically boosts crypto markets, and the total supply of USDT on exchanges has increased significantly since 2024.

Bitcoin, currently trading at $58,800, corrected 3% from its September 14 peak. The Fed's decision could lead to two scenarios: a risk-on situation, potentially pushing BTC towards $65K or $70K, or a risk-off scenario causing panic selling and a market decline. Investors are preparing for either a sell-the-news or buy-the-rumor reaction.

Technical analysis suggests BTC could stabilize around $57,201 and $57,970. A bounce here might push BTC to retest resistance at $60,741 to $61,337, with a potential rally to $63,987. Conversely, falling below $57,201 could lead to a 5% correction, testing the 50-week EMA at $54,291.