Bitcoin has surged nearly 6% in September, defying its seasonal trends. It reached a supply zone near $117,300, with potential for new highs if it closes above. A correction below $114,500, ahead of the FOMC meeting, could offer a buying opportunity.

The $111,000–$113,000 zone is crucial for Bitcoin’s current uptrend. The RSI shows potential for renewed buying momentum if it holds. Miner behavior and accumulation reinforce a positive outlook, with stability around $112,000 seen as key for sustained momentum.

URPD metric data shows 5.5% of BTC supply is clustered between $110,000–$113,000, indicating significant accumulation in that range. Mid-sized holders have absorbed 715,000 BTC from whale distribution. This structural shift, with smaller players entering the market, suggests $113,000 may be a key support level before further upside.

Read more at Cointelegraph: Bitcoin Price Drop To $113K Before New FOMC Highs Possible