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The Bitcoin worth tumbled beneath $110k prior to now 24 hours as worry 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 Concern and Greed Index edged up from 28 to 33 yesterday, nonetheless portraying a state of ”Concern” amongst traders as costs fell.
📈 Bitcoin’s Potential Surge Tied to Fed Management Shift
Mike Novogratz suggests $BTC might 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 “greatest 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 3 candidates buoyed Galaxy Digital CEO Mike Novogratz, who stated BTC might soar to $200,000.
“That’s the potential greatest 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 seemingly be a bullish catalyst for Bitcoin and different threat belongings.
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 Worth On The Verge Of A Breakout
The weekly chart for the BTC worth reveals a powerful long-term uptrend that has been intact since late 2023.
Bitcoin worth motion exhibits persistently 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 help space, stopping deeper corrections.
Inspecting the key indicators, the 50-day Easy Shifting Common (SMA) on the 1-week chart is positioned properly beneath the present worth, indicating a wholesome bullish construction.
With the value of BTC remaining comfortably above these ranges, it alerts energy within the pattern. 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 Power Index (RSI) sits at 53, a impartial studying that implies neither overbought nor oversold circumstances. This stability usually gives room for additional upside with out instant threat of exhaustion.
Based mostly on the present setup, the value of Bitcoin seems to be constructing a base for an additional leg greater. If the $107,500 degree holds, BTC might 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 might surpass the $1 million degree in This fall.
🇺🇸 ERIC TRUMP SAYS “ I THINK BITCOIN WILL SURPASS $1,000,000 AND This fall 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 help, the subsequent cushion towards downward strain might be across the 50-day SMA at $98,800 and close to the 0.382 Fib degree ($97,274).
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