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The Bitcoin worth tumbled beneath $110k prior to now 24 hours as concern gripped the crypto marketplace for a second consecutive day.
The BTC worth dropped a fraction of a p.c to commerce at $109,817 as of 12:40 a.m. EST, whereas the Crypto Worry and Greed Index edged up from 28 to 33 yesterday, nonetheless portraying a state of ”Worry” amongst traders as costs fell.
📈 Bitcoin’s Potential Surge Tied to Fed Management Shift
Mike Novogratz suggests $BTC may hit $200,000 if the subsequent Federal Reserve chair adopts a extremely dovish financial coverage stance. The Galaxy Digital CEO views this potential management change as Bitcoin’s “largest bull… pic.twitter.com/icvjQVAIXV
— 👁 KOLYAN TREND | NFT and METAVERSE 👁 (@kolyan_trend) September 27, 2025
Nonetheless, a Bloomberg report that President Donald Trump has narrowed his shortlist for the subsequent Federal Reserve chair to a few candidates buoyed Galaxy Digital CEO Mike Novogratz, who stated BTC could soar to $200,000.
“That’s the potential largest bull catalyst for Bitcoin and the remainder of crypto,” Novogratz stated in an interview with Kyle Chasse.
A dovish stance from a brand new Fed chief would imply decrease rates of interest, and that will probably be a bullish catalyst for Bitcoin and different threat property.
White Home financial adviser Kevin Hassett, Federal Reserve Governor Christopher Waller, and former Fed Governor Kevin Warsh are the names on Trump’s shortlist to interchange Jerome Powell on the Fed, Bloomberg reported.
With BTC dropping beneath the $110,000 support-turned-resistance, can the bulls take cost to push the asset to greater ranges?
Bitcoin Value On The Verge Of A Breakout
The weekly chart for the BTC worth reveals a robust long-term uptrend that has been intact since late 2023.
Bitcoin worth motion reveals constantly greater highs and better lows, with the most recent candles consolidating simply above the 0.236 Fibonacci retracement degree round $107,500. This zone has acted as a vital assist space, stopping deeper corrections.
Inspecting the main indicators, the 50-day Easy Transferring Common (SMA) on the 1-week chart is positioned nicely beneath the present worth, indicating a wholesome bullish construction.
With the value of BTC remaining comfortably above these ranges, it alerts power within the development. The Fibonacci retracement ranges present key zones of curiosity, with the 0.382 degree at $97,274 and the 0.5 degree at $88,997 serving as potential draw back helps if the market experiences a pullback.
In the meantime, the Relative Energy Index (RSI) sits at 53, a impartial studying that means neither overbought nor oversold circumstances. This steadiness typically offers room for additional upside with out rapid threat of exhaustion.
Based mostly on the present setup, the value of Bitcoin seems to be constructing a base for one more leg greater. If the $107,500 degree holds, BTC may surge to the subsequent Fib goal at $160,000, having cleared its all-time excessive (ATH) above the $124,000 zone.
This comes as Eric Trump believes that Bitcoin may surpass the $1 million degree in This autumn.
🇺🇸 ERIC TRUMP SAYS “ I THINK BITCOIN WILL SURPASS $1,000,000 AND This autumn OF THIS YEAR WILL BE UNBELIEVABLE ” 🚀 pic.twitter.com/Fh4cZfs0dZ
— Ash Crypto (@Ashcryptoreal) September 26, 2025
Conversely, if the value of Bitcoin drops beneath the $107,500 assist, the subsequent cushion towards downward stress may very well be across the 50-day SMA at $98,800 and close to the 0.382 Fib degree ($97,274).
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