Bitcoin’s price stands at $112,114, up 2.55% in the last 24 hours, with trading volume topping $46 billion. The latest rally has sparked debate on whether the cryptocurrency could be on the cusp of a more dramatic breakout, with macro policy shifts providing fresh momentum.
Fed Policy Shift Could Fuel a Rally
Galaxy Digital CEO Mike Novogratz believes the next leg higher for Bitcoin may hinge on U.S. monetary policy. In a recent interview with Kyle Chasse, the billionaire investor argued that Bitcoin could climb toward $200,000 if the Federal Reserve undergoes a leadership change.
Specifically, he pointed to the potential replacement of Chair Jerome Powell with a more “dovish” figure—an official inclined toward looser monetary policy and lower interest rates.
Historically, interest rate reductions tend to weaken traditional safe havens, such as bonds, while boosting demand for riskier assets, including Bitcoin and equities. Lower yields on fixed-income instruments often drive capital into higher-yielding alternatives, creating the liquidity conditions that fuel crypto rallies.
A dovish Fed chair could serve as a significant catalyst for bulls. Bitcoin may reach $200,000 if aggressive easing takes hold. Recent rate cuts already signal shifting conditions.In September, the Federal Open Market Committee cut rates by 25 basis points, the first adjustment of 2025. Analysts expect additional cuts by year-end, a policy trajectory that could reshape market flows.
Bitcoin (BTC/USD) Technical Landscape
The Bitcoin price prediction appears bullish, as BTC has bounced back after reaching a new high of $110,350. A bullish engulfing candle has broken through the short-term moving averages, and the two-hour chart is indicating a potential breakout.
The first test is at the 100 SMA, which is currently at $112,563, and also marks the upper boundary of the descending channel that capped the previous rally.
Bitcoin Price Chart – Source: TradingviewThe RSI is at 72, indicating an overbought condition but also showing strong buying momentum. A close above $114,000 would be bullish, opening up $116,150 and then $117,850. Below that, and we could see a pullback to $111,000 or $110,350. Deeper levels are $108,700 and $107,300.
Bitcoin (BTC/USD) Trade Setup and Outlook
The wedge is forming higher lows, so if resistance gives way, we are bullish. Traders can look to go long on a confirmed break above $114,000 with targets at $116,150 and $117,850. Stops below $110,350.
With dovish policy and improving technicals, Bitcoin is looking up. If Novogratz is right, the macro narrative suggests that BTC is setting up not only for new cycle highs but also for a broader market rally that will take Ethereum, XRP, and Solana with it.
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Click Here to Participate in the PresaleThe post Bitcoin Price Prediction: Crypto Billionaire Says BTC Could Hit Record Highs Soon – Thanks to a Major Shift in U.S. Policy appeared first on Cryptonews.
